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Free AccessUSD/CNH Narrows Gap With 50-DMA
- In early Friday trade, the USD Index is holding the bulk of the post-Fed decision weakness, trading either side of the 96.00 handle. This has kept EUR/USD and GBP/USD within the Thursday range, keeping GBP/USD north of 1.33 and EUR/USD below yesterday's highs of 1.1360.
- CNH stands out slightly, with USD/CNH making headway through the mid-December highs of 6.3893 to narrow the gap with first resistance of 6.3912, the 50-dma.
- NZD sits at the bottom-end of the table, falling against all others in G10 as EUR/NZD narrows the gap with November/December resistance crossing at 1.6762/1.6775. Softer commodities prices so far Friday are driving growth proxies lower, with WTI and Brent off around 1.5% apiece.
- There are no notable data releases due Friday, with market focus turning to the first post-Fed decision commentary from the FOMC, with Waller due just after the London close discussing the economic outlook.
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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.