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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.
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Free AccessSingle currency cracks -Key support in........>
FOREX: Single currency cracks
-Key support in EUR/USD at $1.1027 gave way late Friday, as the perfect storm of
Italian politics, light liquidity and month-end flow worked against the single
currency. The (very) newly proposed Italian governing coalition showed early
signs of fracture Friday after the centre-left PD stated the demands of their
Five Star counterparts were unacceptable, raising the risk of fresh elections if
tensions aren't settled. The EUR's weakness will not be pleasing the US
President, who tweeted Friday: "The Euro is dropping against the Dollar like
crazy!".
-The EUR's underperformance was the key driver for another greenback rally,
bringing the USD index into very close proximity to the early August multi-year
highs of 98.932.
-The coming week starts off slow with US Labor Day. Attention turns to ISM
Manufacturing, August global PMIs, BoC rate decision and the US&Canadian jobs
reports. The central bank speaker schedule is packed, with Fed's Powell due to
speak for the final time before the September blackout period.
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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.