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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: PBOC Net Drains CNY216 Bln via OMO Monday
Tracked EUR/USD lower Wednesday, following....>
CABLE: Tracked EUR/USD lower Wednesday, following failure to move above its
recent high of $1.2385. Rate eased to $1.2313 during the NY afternoon before it
closed the day around $1.2330. Rate consolidated in Asia between $1.2325/37,
buoyed in part by general risk appetite generated by goodwill gestures between
the US and China ahead of trade talks. However, sterling has come under renewed
pressure into Europe, cable breaking down to $1.2315, whilst EUR/GBP, which had
closed below its 100-dma (Gbp0.8930 Wed, Gbp0.8936 current) was pushed above in
opening trade, the cross trading to Gbp0.8940. Sterling has pared some of these
early losses, cable currently around $1.2325, cross around Gbp0.8936. As has
been noted in recent days, sterling liquidity is poor and any decent sized order
likely to provoke a volatile reaction.
- Cable support noted between $1.2313/07 ahead of $1.2300. Resistance
$1.2360/70, $1.2385.
- A light UK calendar, attention set on ECB announcement and US CPI with Brexit
developments remaining a key driver.
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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.