Free Trial

U.S. Pres Trump's announcement of a 30-day....>

FOREX
FOREX: U.S. Pres Trump's announcement of a 30-day ban on travel from continental
Europe & his failure to come up with bold fiscal measures battered risk
appetite. A slip of the tongue on Trump's part as he suggested that restrictions
will affect trade w/Europe, with the space looking past clarifications that
tightened restrictions won't affect goods & cargo. USD/JPY plunged through the
Y104.00 mark, but recouped the level as risk-off moderated somewhat. CHF gained
alongside the yen, while commodity-tied FX underperformed. NOK fared the worst,
pummelled by a drop in oil prices. AUD also struggled as a A$17.6bn fiscal
stimulus package unveiled by the Australian gov't brought no reprieve.
- EMFX took a hit from risk aversion, with MXN & ZAR offered. USD/Asia firmed
up, as regional FX played catch-up to the WHO's pandemic declaration. KRW led
losses in the space, with South Korea reporting 114 new coronavirus cases & 6
new fatalities. PHP was dumped as top Philippine financial off'ls went into
self-quarantine after having contact with a person infected with the virus.
- The ECB delivers its MonPol decision today and its response to the coronavirus
crisis is an obvious point of note. EZ IP, U.S. PPI & Swedish CPI are also due.

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.