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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 AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Strengthens Below 110
The yen gained overnight after the greenback dropped on a decline in yields, USD weakness saw USD/JPY drop to 109.67 the lowest level since March 29, the pair languishes near the bottom of its range, last at 109.76. The pair remains beholden to moves in USD, the FOMC minutes release later on Wednesday will be watched for views on inflation and the labour market.
- From a technical perspective USD/JPY has pulled back from recent highs, with prices solidifying a move below 110.00 Tuesday. The outlook though remains bullish following the recent trend extension and breach of a number of important short-term resistance levels. Attention is on a climb towards 111.30 next, Mar 26, 2020 high. Note that overbought conditions are still not impacting this trend and instead this continues to reinforce current sentiment. 108.41 is key support.
- A limited local economic docket today, BoJ Rinban Ops are due at 0210BST/0910HKT, while Leading/Coincident Index will hit at 0600BST/1300HKT.
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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.