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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 AccessTrump prompted a USD dump on Thursday,........>
FOREX: Trump prompted a USD dump on Thursday, after the greenback had rallied
through much of the European session. The President stated his discontent with
rising interest rates, adding that a strong USD can make the U.S. uncompetitive.
The move was limited by a White House spokesperson clarifying that Trump's views
are well known and that he respects the independence of the Fed, with a modest
bounce observed in the USD.
- The initial headlines saw USD/JPY print a low of Y112.06, as the move tipped
EUR/USD through the Asia and Jul 18 highs. Commodity-tied FX was hampered by
industrial metals falling sharply on trade concerns.
- A poor UK retail sales number earlier pushed GBP/USD below $1.30 for the first
time since August of last year, adding to the string of poor data that may force
the BoE to re-consider its rate hike intentions.
- USD/CNH had traded above CNH6.80, before Trump highlighted that the Chinese
currency is dropping like a rock.
- Focus Friday turns to Japanese and Canadian CPI, Canadian retail sales, and a
speech from Fed's Bullard.
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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.