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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 latest intensification in trade war.......>
FOREX: The latest intensification in trade war fears coupled with markets
perceiving the growing change of easing from the FOMC weighed on USD, after
light risk-off flows were evident in early trade.
- The initial risk aversion, stemming from lingering global trade tensions,
pressured commodity-tied FX (save the kiwi), before a combination of better than
expected Chinese Caixin PMI print and a NYT report stating that the White House
decided against tariffs on Australian goods put a bid into the Antipodeans.
- This occurred even as the latest round of Australian GDP inputs came in mixed.
- JPY gave away its early strength, although major regional equity indices
remained in the red, while CHF managed to hold gains vs. its G10 peers.
- KRW outperformed in Asian FX, even as South Korean Nikkei m'fing PMI moved
into contractionary territory & the weekend's trade data release also provided
disappointment. USD/KRW tumbled ~0.9%, with dollar weakness aiding the move.
- Global m'fing PMI readings take focus today, with comments from Fed's Daly,
Quarles, Barkin & Bullard also due. NZ markets are shut for a holiday today.
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.