DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

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 Giving Back Some Of Monday’s Rally

FOREX

The USD trades on the defensive during early Asia-Pac trade, finding itself at the bottom of the G10 FX performance table.

  • This comes after Monday’s data & WSJ Fed whisper Timiraos-inspired rally, with a light downtick in Tsy yields and uptick in e-minis also seen, once again countering Monday’s moves, while introducing a light cross-market impetus to the USD downtick.
  • The JPY outperformed early on, although the Antipodeans have now moved to the top of the G10 FX table after BBG headlines noted that that Beijing will no longer require a negative COVID test result to enter most public venues, in the latest rollback of COVID restrictions across the major Chinese cities. In terms of specifics, BBG headlines have noted that schools, bars and restaurants in Beijing will still require a negative COVID tests taken within the last 48 hours to allow entry.
  • This comes as the China’s daily new COVID case count continues to moderate from the all-time highs lodged at the end of November.
  • The latest RBA monetary policy decision headlines the global docket on Tuesday, with a 25bp hike widely expected & 20-21bp of tightening priced into RBA dated OIS.
  • Further out German factory orders & trade balance data from North America is due. Comments from Riksbank’s Floden are also slated.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@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.