MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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.
Energy BulletsCommodities
Energy BulletsCommodities

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.