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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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Free AccessUSD/CNH Break Higher Aids USD Recovery
The USD was initially on the back foot, as US cash Tsy yields re-opened with a weaker tone, as the market digests the debt ceiling deal from the weekend. However, after USD/CNH broke to fresh highs above 7.1000, USD indices turned higher, the BBDXY last 1246, versus earlier lows near 1243.40.
- AUD/USD fell from highs near 0.6560 to 0.6510. We sit slightly higher now, last near 0.6520. Apr building approvals data was weaker than expected, but didn't have a lasting impact on sentiment.
- NZD/USD got to fresh lows back to Nov of last year. We printed 0.6030, but like AUD have recovered some ground, last 0.6040. Apr building permits for NZ also showed a pull back.
- JPY has outperformed slightly, the pair last sits at 140.30/35, with a 139.97/140.53 range for the session so far. The risk averse tone in regional equities has helped yen, along with a pullback in US yields.
- EUR/USD sits above 1.0700 for now, while GBP/USD is slightly higher, 1.2355/60.
- Later the European Commission May survey, March US house prices and May US consumer confidence & Dallas Fed manufacturing are released. Also, Fed’s Barkin speaks on monetary policy. US API inventory data prints too.
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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.