TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

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

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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due 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

Sentiment Supported as Equities Retain Corrective Cycle Higher

FOREX
  • Equity markets remain in a corrective cycle, and trade higher again Monday, underpinning a calmer outlook to currency markets so far this week. As a result, the greenback is softer and the USD Index is through last week's lows. The main beneficiaries so far have been the EUR and SEK, with both currencies posturing ahead of the Riksbank decision on Thursday and the ECB's Sintra policy forum across the week.
  • AUD, NZD are the weakest performers so far Monday, but both currencies hold within recent ranges and are yet to test any material downside levels. AUDUSD continues to trade above 0.6851, the Jun 14 low. This support however remains exposed and trend signals are bearish. A resumption of weakness would also signal scope for a test of key support and the bear trigger at 0.6829, the May 12 low. Clearance of this support would confirm a resumption of the downtrend and open 0.6805, the Jun 22 2020 low.
  • Data releases due Monday include prelim May durable goods as well as pending home sales. ECB's Lagarde is due to speak as she marks the opening of the ECB's central banking forum in Sintra. Markets watch for any update on the progress of the anti-fragmentation tool expected to be unveiled in the coming policy meetings.
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.