Free Trial
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
- The equity space remains bullish. {US} E-mini S&P futures have cleared 3900.00 exposing the 4000.00 handle.
- In the FX space, the USD is softer so far this week.
- EURUSD continues to extend the recovery from the Feb 5 low of 1.1952. The pair has cleared the 20-and 50-day EMAs opening 1.2156 next, Jan 29 high.
- The bullish engulfing candle from Feb 5 is still in play.
- EURUSD continues to extend the recovery from the Feb 5 low of 1.1952. The pair has cleared the 20-and 50-day EMAs opening 1.2156 next, Jan 29 high.
- Last week we highlighted an inverted head and shoulders in the USD Index. Note this pattern's key support lies at 90.05, Jan 21 low and the pattern's right shoulder. A break would negate the reversal and strengthen a USD bearish risk theme.
- USDJPY is off recent highs. The key support zone for today is between 104.48, 20-day EMA and 104.27, a trendline support drawn off the Jan 6 low. The low for today so far is 104.41.
- EURGBP remains bearish and targets 0.8711, May 11, 2020 low.
- On the commodity front, Gold maintains a firmer tone and is pressuring the 20-day EMA. This opens the 50-day EMA at $1856.7 next. Oil contracts remain firm. Brent (J1) targets $61.61 - 1.500 projection of the Apr - Aug - Nov 2020 price swing. WTI (H1) bulls eye $59.06 next, 1.382 proj of Apr - Aug rally from the Nov 2 low.
- In the FI space, Bunds (H1) have found support this week at 175.61, 1.236 projection of Jan the 4 - 12 sell-off from the Jan 27 high. This is the bear trigger - the trend remains down. Gilts (H1) outlook remains bearish with attention on 131.53, 2.236 projection of the Dec 11 - 24 sell-off from the Jan 4 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok