Free Trial

USD grinds higher as markets bide time........>

FOREX
FOREX: USD grinds higher as markets bide time ahead of BoE's Super Thursday
-USD and SEK are the strongest in G10 this morning with little news to give the
major pairs any firm direction. USD was stronger throughout the European
morning, pressing EUR/USD and GBP/USD to multi-day lows, but no break of the
recent ranges.
-NZD is at the bottom of the pile after the RBNZ were slightly more dovish than
expected despite an unchanged rate decision, stating that they expect the NZD to
weaken from current levels.
-Options markets are expecting a volatile day for the pound: GBP/USD 1-week
implied volatility remains close to multi-month highs and 1-month vols traded at
the highest in a year on Tuesday.
-USD/CNY had the best day since 2015, rising over 1% following disappointing
trade balance figures and news that the QDLP program will be re-activated, a
signal that China's authorities are more comfortable with capital outflows given
the recent strength in the CNY. See 0743GMT bullet for full details.
-Focus turns to BoE releases beginning at 1200GMT and US weekly jobless claims.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.