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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.
MARKET INSIGHT
- A volatile start to the week saw the E-Mini S&P contract trade within a large range. A candle pattern known as a hammer marks yesterday's price action and is a concern for bulls. It suggests a top and highlights the risk of a deeper near-term pullback. Watch key support at 3596.00, Dec 21 low.
- On the commodity front, Gold is volatile but maintains a bullish tone. The focus is on $1918.2 next, 76.4% of the Nov 9 - 30 sell-off. Oil remains vulnerable. Brent (G1) support and the intraday bear trigger is at $49.20/18, Dec 21 low and the 20-day EMA. Key WTI (G1) support to watch is $46.25, Dec 21 low.
- In the FX space, the USD is firmer this morning. EURUSD key near-term support is seen at 1.2103, the 20-day EMA and trendline support drawn off the Nov 4 low
- Sterling remains vulnerable.
- Cable key parameters are1.3624 resistance, Dec 17 high and 1.3135 support, Dec 11 low.
- EURGBP support at 0.8983, Dec 4 / 17 l remains a key pivot level - bullish above, bearish below. Key resistance is 0.9230, Dec 11 high.
- In the EU FI space, key support in Bund (H1) lies at177.37/27, trendline support drawn off the Nov 11 low and the Dec 16 low. A 135.08 print in Gilts would fill a gap in the chart. This is a key intraday support, Dec 18 high.
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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