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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 Holding Gains In Early Asia
The greenback holding on to its bid tone from US hours yesterday. US President Biden reiterated he is willing to negotiate the size of the latest stimulus package, and his administration solidified its wait and see stance around the relationship with China.
- AUD & NZD both lower, AUD/USD down 6 pips at 0.7706, NZD/USD down 11 pips at 0.7190. New Zealand's Services PMI improved to 49.2 from 46.7 last month, falling short of returning into expansion. Volumes in the Antipodean region are likely to be thin with Australian markets closed for Australia Day.
- USD/JPY is slightly higher, last up 3 pips at 103.78. The BoJ released the meeting of its December meeting (already out of date given that the January meeting has already come and gone). Nothing particularly exciting but there were indications that the board saw asset purchases as important and necessary going forwards.
- The PBOC fixed USD/CNH at 6.4847 around 19 pips higher than sell side estimates as the PBOC again demonstrate its asymmetric response to yuan strength. Yesterday the rate remained stubbornly below 6.50 – last trades at 6.4858.
- EUR is holding lower after a down day on Monday after a dovish comments from ECB officials. Italian political turmoil continues and elsewhere riot police in the Netherlands clashed with protesters again over the lockdown curfew.
- GBP is also lower, UK PM Johnson is scheduled to meet with official tomorrow on imposing a flight quarantine.
To read the full story
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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.