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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.
FOREX
- The questionable tradability of the Japanese Yen at current levels could place EURUSD in the spotlight over today’s US CPI release. Given overnight options pricing incorporates Thursday’s ECB meeting, favourable risk reward dynamics may be in place for some Euro crosses at this juncture.
- On the potential impact on broader risk sentiment, and the notable buoyancy for major equity benchmarks, potential further downside targets for EURAUD and EURNZD are highlighted in the pdf below. The additional event risk of the Bank of Canada should also keep EURCAD a key short-term cross.
- Full piece here:
- EURNZD: The RBNZ left rates on hold overnight as expected, but a requirement for anchored inflation expectations added a hawkish tilt to the policy statement. This translated into modest NZD outperformance and sees EURNZD trade lower. This moderately extends the move below the 20-day exponential moving average. The 50-day EMA has yet to be breached and further weakness below this average (intersecting at 1.7851), could add to bearish momentum. Downside continuation would place the focus on trendline support, which resides around the 175.00 mark.
FX Market Analysis - EUR 10-04.pdf
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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