MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Scandi FX Underperforms on Local Equity Volatility

FOREX
  • The greenback trades well early Monday, with the USD Index recouping a small part of the Friday pullback, although the bounce has stopped short of taking out either 103.665 or 103.928.
  • Liquidity and price action has generally been subpar, with a UK market holiday keeping many traders on the sidelines ahead of key risk events later this week - most notably the Fed rate decision Wednesday as well as Friday's Nonfarm Payrolls release.
  • Equity markets have been more volatile, with flash crash-type price action triggered in Scandinavian stock markets - supposedly triggered by an incorrectly sized basket order at the open - which saw Sweden's OMX Index drop 7% in seconds, before swiftly paring the losses in the subsequent few minutes.
  • Euronext Oslo stated that there was no news in the market that could explain the rapid decline, adding that they are investigating the sharp fall "as a matter of routine". In response, SEK and NOK are underperforming in G10 - the weakest currencies so far this week.
  • ISM manufacturing for April is the data highlight Monday, with markets expecting an improvement in the headline to 57.6 from March's 57.1.
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.