Free Trial

Risk-on the overriding theme through NY -.....>

FOREX: Risk-on the overriding theme through NY
- The DJI staged an impressive 1100 point swing off Wednesday's opening low as
persistent USD demand kept risk firmly on the table.
- Usd/Jpy reflected the positive start to US equities and was quick to take out
reported offers through Y107.20. The rate extended to 5-week highs of Y107.49,
before fading.
- The strong USD particularly hit EUR & GBP hard. Gbp/Usd traded sub $1.40,
triggered stops through $1.3975 on the move to $1.3966. Eur/Usd took out key
trend-line support to print lows of $1.2218.
- CAD briefly made a show above C$1.2800 after soft domestic trade data, but was
quick to pare losses after Canadian PM Trudeau said NAFTA talks are moving
forward in a significant way.
- AUD & NZD held near the base of their respective ranges, last
- Traders look ahead to tomorrow's NFP release with main focus expected on the
AHE component for direction. Canadian jobs data is also scheduled for release. 

To read the full story



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.