MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

SUMMARY - Dollar Index Bounces

FOREX
  • EUR continued the theme of the European morning, trading with a heavy tone throughout the US session. EURUSD made fresh session lows of 1.2225.
  • The USD index had a fairly aggressive bounce as we approached the WMR month/year end fixing window. AUD, NZD and CAD giving up prior gains.
  • GBP (+0.29%) remained well bid with EURGBP the notable mover as markets focused on the trade deal rather than the stricter Covid measures enforced throughout the country. Additionally, flows around month end saw EURGBP print fresh lows at 0.8947 (Down 0.85%).
  • The USD index was certainly driven by its heavily weighted EUR component. Overall, G10 FX performance was mixed. AUD, CAD, GBP held onto gains, with NZD slipping into the red.
  • USDCHF traded in tandem with EURUSD gaining 0.4% as of writing. USDCNH and USDJPY largely unchanged amid light volumes. Markets will continue to digest the news that China will adjust the weightings of currencies in its currency basket that helps set the yuan's daily reference rate, effective from Jan. 1.
  • Weaker than expected U.S. initial jobless claims (787,000 through December 26, far below expectations for 833,00 claims) was a sideshow as expected. In general, turnovers in FX have remained on the lower side, as we close out the year.
Energy BulletsCommodities
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.