Free Trial

Traders reported of light volumes............>

DOLLAR
DOLLAR: Traders reported of light volumes overnight with the DXY held to a
narrow 96.82-89 range. The Antipodeans outperformed on fiscal stimulus comments
from the Chinese Fin Min. Soft AU Retail Sales were countered by improved trade
balance data which revealed a wider surplus.
- DXY topside gains have so far been capped around 97 which holds double top
resistance & the 76.4% retracement level of 97.36-95.82, above here opens the
Feb 19/Feb 15 highs at 97.08/36.
- Gold largely holds between $1281-1291, searching for direction. A topside
break of the Mar 4 high at $1296.96 opens the 55-dma at $1299.25, ahead of
resistance at the $1300 level. While a downside break of $1280 brings the
100-dma back into view at $1267.73.
- WTI & Brent trade $0.20 and $0.30 higher respectively, after the benchmarks
lodged modest gains on Wednesday.
- US Jobless Claims & non-farm Productivity are released at 1330GMT. Speeches
also scheduled from NY Fed Vice President Simon Potter in London at 1530GMT and
Lael Brainard in Princeton at 1715GMT.

To read the full story

Close

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.