© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: PBOC Injects Net 141 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY202 BILLION VIA 14-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1729 FRI VS 7.1730

JAPAN AUG CPI ENERGY COST -9.8% Y/Y; JULY -8.7%

MNI JAPAN AUG CORE CPI +3.1% Y/Y; JULY +3.1%

MNI: UK SEP GFK CONSUMER CONFIDENCE INDEX -21

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

US Dollar Under Pressure, Cross-JPY Remains Supported

FOREX
  • Broad greenback weakness continued across markets as most G10 counterparts rose to their best levels of the week. The DXY is down 0.4% and completes its third consecutive daily decline, slowly eroding into last Friday’s advance.
  • Outlier in this respect is the Japanese Yen which largely represents the extended bid for cross-JPY as equities extended their bounce with overall fears surrounding the Omicron variant waning. AUDJPY, NZDJPY and GBPJPY have all risen just shy of one percent.
  • With the Aussie leading the charge in risk, it is worth highlighting the move away from 0.7090 short-term support, bolstering the medium-term outlook for a further recovery from a strong inflection point around 0.6995. Clearance of last week's high of 0.7224 on Dec 16 is needed to trigger a resumption of bullish activity.
  • EURUSD broke a cluster of highs just above the 1.13 mark, rising to highs of 1.1342 and approaching last week’s peak at 1.1360. Key resistance, however, at 1.1383 is intact, Nov 30 high. A break of this hurdle is required to signal potential for a stronger recovery towards 1.1407 the 50-day EMA.
  • Despite the looming holiday break – plenty of data for markets to assess tomorrow. Core PCE Price Index as well as durable goods headline the US calendar. In Canada, October GDP will be released.
EM BulletFixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News

To read the full story

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.