MNI Brief: China Third Plenum To Deepen Reforms

MNI: PBOC Net Injects CNY80 Bln Via OMO Thurs; Rates Unchanged

CHINA PBOC CONDUCTS CNY100 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1270 Thurs; -0.78% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 THURS VS 7.1248

MNI BRIEF: China Yuan Supported By Exports, Short Swing Sees

ANZ Business Sentiment Mixed, Price Measures Trending In The Right Direction

Job Vacancies Continue To Correct Lower, Inflation Expectations Tick Up

Business Sentiment Eases, But Export Outlook Ticks Higher

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Softer French, Dutch CPI Undermine EUR Rally

FOREX
  • The single currency is among the poorest performers in G10 early Thursday, undermined by a series of lower-than-expected CPI prints from France and the Netherlands - releases which spelled downside risks vs consensus for the Eurozone CPI Estimate. As a result, the lower-than-expected Eurozone-wide figure failed to meaningfully move market in either direction, with as easier ECB rate pricing across 2024 persists across the morning.
  • The USD Index is the main beneficiary, rising through Wednesday's high and narrowing back in on the better levels of the week. The corrective bounce posted over the past two sessions coincides with the 14-day RSI flashing technically oversold - which may mean the market moves are deemed corrective at this stage.
  • GBP trades softer, with GBP/USD softer through the Wednesday low, however EUR/GBP managed to maintain the losing streak of nine consecutive lower lows. A break at current or lower levels would mark the first break below the 100-dma since May, a technical break that presaged a ~3% downleg across May and June.
  • The MNI Chicago PMI data takes focus going forward, with markets expecting the headline to improve slightly to 46.0 from 44.0 previously. Personal income/spending data also crosses as well as Canadian GDP. The speaker slate is similarly busy, as ECB's Lagarde & Nagel, Fed's Williams and BoE's Greene are all set to make appearances.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.