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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.
GBP
- Cable has extended gains throughout Monday’s session and momentum has been building in most recent trade as GBPUSD rises back above 1.14 and is seen up 2.27% from Friday’s close.
- Price action may have been exacerbated by the break of the 2022 highs in GBPJPY at 168.72, with the pair now trading at the best levels since February 2016.
- Technically for cable the bounce from last Wednesday's 1.0924 low strongly indicates that the recent move lower between Oct 5 - 12 appears to be a correction. A continuation higher would signal scope for a test and possible breach of 1.1495, the Oct 5 high and bull trigger.
- The key risk event for UK markets is Wednesday’s release of September inflation, before the next Bank of England decision which is scheduled for Nov 03.
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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