MNI BRIEF: China March Mfg. PMI Returns To Expansion

MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

USD Downtrend Pauses on Wall Street Slide

FOREX
  • Currency markets are in consolidation mode early Friday, with the greenback holding its ground and pausing the recent downtrend. Nonetheless EUR/USD gains overnight managed to put the pair at a new cycle high of 1.1483, again narrowing the gap with the next key level at the 100-dma of 1.1507.
  • The pause in the USD downtrend follows the resolutely negative close on Wall Street yesterday, with the tech-led NASDAQ closing lower by just over 2.5% on the day. As a result, JPY has seen some support so far today, while recent outperformers including the AUD and NZD are at the bottom of the pile.
  • USD/CNH made another attempt on recent cycle lows early Friday, dropping to touch 6.3425 before bouncing on reports that China's SAFE regulator had tightened restrictions on 'underground banks' and their interactions with the forex market.
  • December retail sales numbers take focus in the US session, with markets expecting sales to have dropped 0.1% across the month, with the prelim Uni of Michigan confidence release following shortly afterward. Central bank speakers of note include ECB's Lagarde and Fed's Williams.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.