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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.
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Free AccessThe "indefinite suspension" of U.S. tariffs...>
FOREX: The "indefinite suspension" of U.S. tariffs on Mexico announced by U.S.
Pres Trump late Friday set the tone for today's Asia-Pac session, supporting
risk appetite, even as questions surrounding the details of the agreement
remain. Market closure in Australia limited regional headlines somewhat, while
little reaction was noted to upbeat Chinese trade balance & final Japanese GDP.
- USD was aided by the Mexico deal, alongside the oil-tied CAD & NOK. Safe haven
JPY & CHF struggled, but AUD & NZD bottomed the G10 pile eventually.
- MXN rallied, boosted by the aforementioned tariff suspension. USD/MXN returned
to the range from ahead of the tariff announcement.
- Onshore yuan softened, as China emerged from its elongated weekend with
investors turning focus to the recent comments from PBoC Gov Yi, who said that
"no yuan exchange rate number is more important than others." Yi's remarks
allowed USD/CNH to touch a fresh YtD high on Friday.
- Italian industrial output, Canadian housing starts, as well as industrial
output, trade balance & GDP out of the UK take focus today. Also expected are
remarks from BoE's Haldane and Saunders, as well as ECB's de Guindos.
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.