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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 AccessMNI China Daily Summary: Friday, December 6
The USD continued its move higher as..........>
FOREX: The USD continued its move higher as 10-Year yields closed above 3.00%.
The DXY touched the highest levels seen since early Jan & is fast approaching
the 200-DMA as FX markets continue to follow the lead of bond yields, which
allowed the stronger dollar to press most majors to multi-month lows against the
greenback.
- Particular pain was seen in NZDUSD, which suffered its 7th consecutive daily
decline & has fallen over 4.5% from the recent peak. Options markets remain
relatively bearish on the cross, with 1w risk reversals touching multi-week lows
today.
- EURUSD continues to operate on the back foot & the option expiry calendar is
gaining attention: over E5.2bln of 1.2200 options are due to expire tomorrow.
- BoC Gov Poloz was on message stressing data dependence, while pointing to the
need for additional tightening going forwards.
- Barring the move in the USD & NZD today, all other majors looked relatively
non-committal ahead of tomorrow's ECB rate decision and Friday's US advance GDP
numbers.
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.