MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Risk-Off Pervades Further, ECB Strat Review in Focus

FOREX
  • Volumes across JPY, AUD and NZD have been healthy so far Thursday, with the pervasive risk-off helping fuel trade in currency markets, sending havens higher and growth proxies lower from the off.
  • JPY is comfortably the best performer in G10, pressing USD/JPY through the 50-day EMA at 109.89 to expose losses toward the mid-June lows of 109.72.
  • The themes and catalysts behind today's return of risk-off are unchanged, with concerns over the more transmissible Delta COVID variant, waning global GDP growth rates and the prospect of tighter monetary conditions still a weight on market sentiment.
  • Haven CHF, JPY currencies are strongest so far, with NOK, CAD weaker alongside oil prices. AUD and NZD follow equity markets, with the e-mini S&P showing through the week's lows well ahead of the NY open.
  • There's little data on the slate to digest beyond the weekly jobless claims numbers from the US. This will keep focus on the release of the ECB's strategy review, due at 1200BST/0700ET, at which the bank are expected to agree upon an upgraded inflation goal of 2%, allowing for price level overshoots in the near-term.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.