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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
- In FX, EURGBP is weaker and has cleared a key support between 0.8867 and 0.8861, marking the Nov 23 and Nov 11 lows. This paves the way for a move towards 0.8800 and 0.8784.
- EURUSD is seen maintaining a bearish short-term theme. Support levels to watch are:
- 1.2054, Jan 18 low where a break would open 1.2011, Sep 1 high.
- Resistance is at 1.2171 20-day EM
- USDJPY attention remains on key resistance at 104.13, the bear channel top drawn off the Mar 24 high. A break would highlight a reversal. 104.40, Nov 11 high is the bull trigger.
- Watch support too at 103.53 too, Jan 13 low. A break would represent a bearish development.
- A bullish engulfing candle in EURJPY yesterday highlights a possible bullish reversal and perhaps a signal of Yen weakness near-term.
- On the commodity front, Gold remains vulnerable despite this week's recovery. Watch support at $1804.7, Monday's low and resistance at $1869.9, the 50-day EMA. Oil contracts have held above support. Brent (H1) support to watch is at $53.75, the 20-day EMA and WTI (G1) support lies at $51.50, Jan 11 low.
- In the FI space:
- Bunds (H1) are off recent highs but the outlook is bullish. Support is at 176.96, 61.8% of the Jan 12 - 14 rally.
- Gilts (H1) resistance is seen at 134.58/66, the 20- and 50-day EMAs. A bearish outlook dominates while activity remains below these EMA levels.
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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