Free Trial

Risk sentiment faltered gradually ahead of....>

FOREX
FOREX: Risk sentiment faltered gradually ahead of potentially eventful sessions
in Europe and the U.S. Cautious mood propped up JPY, allowing it to outperform
its G10 peers, but CHF failed to benefit. Meanwhile, commodity-tied FX were on
the back foot, with the Antipodeans landing at the bottom of the G10 pile, even
as there was no immediate reaction to a deterioration in Australian CBA PMI
gauges. Likewise, FX looked past upticks in Japanese Jibun Bank PMI tallies. A
source pointed to AUD/JPY sales, which underpinned a slip in AUD/USD.
- In Asian FX, Chinese yuan and Korean won softened amid fading risk appetite.
USD/CNY broke above its recent peaks & touched the best levels since 2008. N.
Korea condemned U.S. & S. Korean military activity, but endorsed dialogue, while
a snr S. Korean off'l said he exp. U.S.-N. Korea talks to restart & go well.
- Data-wise, flash PMIs from across the globe, Swedish unemployment, EZ consumer
confidence and Norwegian oil & gas investment survey take focus today. Speeches
are scheduled from Fed's Kashkari & Riksbank's Ingves, the ECB publishes its
latest MonPol meeting minutes, while the Jackson Hole symposium kicks off. UK PM
Johnson will try to explain his Brexit stance to French President Macron.

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.