MNI: PBOC Net Injects CNY184.8 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1136 Tues; +3.19% Y/Y

CHINA PBOC CONDUCTS CNY9186 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1136 TUES VS 7.0989

MNI BRIEF: Mexico Inflation Falls To 4.99% In August

MNI BRIEF: China Aug CPI Rises To Half-year High At 0.6% Y/y

MNI: US JUL CONSUMER CREDIT +$25.5B

EZ/UK Bond Supply Calendar: EU, IT Syndis; NE, UK, DE Due Tuesday

MNI:US JUL WHOLESALE INV 0.2%; SALES 1.1%

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD Index Again Finds Support at 50-dma

FOREX
  • Currency markets are treading water early Friday, with a second UK public holiday and pre-NFP trade keeping volumes, liquidity and price action generally light. The greenback is modestly firmer, but gains are muted as the USD Index finds support again at the 50-dma (currently crossing at 101.65).
  • JPY is one of the poorer performers in FX space, with USD/JPY just through the overnight highs ahead of the NY crossover. Potential is seen for a continuation higher. Price remains above the 50-day EMA, at 126.49 today. This week's move higher signals the end of a recent corrective pullback and highlights the point that corrections in USDJPY are shallow - a bullish signal. The move higher signals scope for a climb towards the bull trigger at 131.35, May 9 high.
  • Nonfarm payrolls seen at 325k in May as the pace eases further from 428k in both March and April, down from the 600k in the prior six-month average but still twice the pace of the monthly gain through 2019. Inflation concerns clearly remain key though so it’s not the rate of jobs growth as much as labour market tightness that continues to matter.
Energy BulletsCommodities
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.