-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessRisk-Off Flows Sweep Across G10 FX Space After Fed's Hawkish Turn
The Fed's hawkish pivot turned the risk switch to off, driving defensive flows across the G10 FX space. Wednesday saw the FOMC set the scene for a March rate hike, while Fed Chair Powell signalled resolve in efforts to tackle elevated inflation, raising the prospect of a more aggressive tightening trajectory.
- Participants sought shelter in safe havens. USD/JPY printed a one-week high in early trade before trimming gains as demand for the greenback re-emerged. The DXY touched its best levels since Dec 20.
- Commodity-tied currencies went offered alongside crude oil futures, with the Antipodeans leading losses. The kiwi dollar was the worst performer, despite another beat in New Zealand's inflation data. Consumer prices in New Zealand grew 5.9% Y/Y in Q4, topping the median estimate & Nov MPS projection of 5.7%, as headline inflation reached the fastest pace since 1990. Meanwhile, the RBNZ's preferred measure of underlying inflation accelerated to +3.2% Y/Y, moving further above the mid-point of the Reserve Bank's target range. NZD/USD ignored domestic data and tumbled to its worst levels since early Nov 2020.
- Offshore yuan sank as the Asia-Pacific digested hawkish FOMC rhetoric. A slightly weaker than expected yuan fixing may have amplified selling pressure which helped the redback move further away from a new cycle high printed pre-FOMC on Wednesday.
- Today's data docket is rather U.S.-centric and includes local GDP, durable goods orders & jobless claims. Comments are due from ECB's Scicluna.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.