FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

USD Bounces Further, Most Evident vs. EUR

EURO-DOLLAR

EUR/USD extending to hit new lows a few hours out from the conclusion of the ECB rate decision. A very buoyant USD also helping, with UST yields surging over the past hour or so on reports of position unwinding and selling from foreign banks and bond funds.


  • The USD index is bouncing further from the mid-October lows and is narrowing the gap with the 100-dma at 94.320. A break north of here opens the late September highs at 94.742.
  • For EUR/USD, 1.1689 key support has given way, opening the 1.1612 bear trigger.
  • Also worth recalling that the equity sell-off this week has switched/strengthened a number of month-end hedge rebalancing models to signal USD demand into the October close.
BulletMarketsForeign Exchange Bullets
BulletMarketsForeign Exchange Bullets

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.