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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 AccessThe FX space witnessed a quiet start to the...>
FOREX: The FX space witnessed a quiet start to the Asia-Pac session, shrugging
off a late sell-off in U.S. equity index futures Thurs. This was before the PBOC
fixed USD/CNY > 6.9500 for the first time since Jan '17, triggering yuan
weakness & risk off trade. Sources noted that USD/CNH's break > CNH6.9700 was
driven by fast money, while macro & onshore players remained quiet.
- AUD/USD registered a fresh YTD low on the risk off flows, with bears targeting
the psychological $0.7000 level, while NZD/USD has eased < $0.6500, bringing the
rate's YTD low at $0.6425 back into view. AUD/NZD trades 10 pips or so softer at
NZ$1.0845 last. The rate's 200-DMA, which now stands at NZ$1.0828, has acted as
a pivot point in recent weeks.
- JPY gained, with USD/JPY last Y112.13, which represents the 50-DMA, bears now
target a close < trendline support (112.07) to open up the 100-DMA (Y111.54).
- USD had no reaction to comments from Fed's Mester & Kashkari who stuck to
their respective scripts.
- Focus turns to U.S. GDP Friday, S&P's review of Italy's sovereign debt rating,
as well as comments from ECB's Draghi & Coeure.
To read the full story
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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.