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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 AccessSoft headline NFP data & continued worry......>
FOREX: Soft headline NFP data & continued worry over the US-Chinese trade
outlook weighed on the USD on Friday.
- The risk off theme allowed USDJPY to moved sub-107.00, although the cross is
back above that level this morning, perhaps on WSJ reports suggesting that North
Korea is ready to meet with the US to discuss de-nuclearisation
- Momentum type accounts were the main drivers in GBP, allowing cable to briefly
top 1.4100, while EURGBP bottomed just above 0.8700.
- USDCAD printed 6-week lows after the strong Canadian labour market report, but
CAD strength faded as equities/crude sold off. It is worth noting that reports
made earlier on Sunday suggested that there will be no NAFTA deal in principle
announced at the upcoming summit of the Americas in Lima.
- AUDUSD strength faded as risk sentiment diminished, although NZD was a little
more resilient.
- The Asia-Pacific docket is light on Monday, however, China returns from an
elongated holiday weekend. The docket looks limited elsewhere on Monday, with
comments from ECB's Praet & the BoC's Business Outlook Survey set to headline.
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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.