MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

USD Index Ends Week On Firm Footing Amid US Inflation Worries/Risk Off

FOREX
  • US PPI, CPI and the University of Michigan inflation expectations data beat expectations this week. One of these in isolation could have been brushed off by the Fed, but all three happening on three consecutive days could be too much to ignore. This has underpinned a strong greenback recovery and the USD index looks set to close the week around 0.65% higher.
  • Furthermore, equities slipped to their worst levels of the session amid headlines from Politico stating that an Israeli ground invasion of Gaza is imminent. Additional newswires then confirmed Israeli military a number of a small raids have been conducted by their personnel inside the Gaza Strip. The first time that it has confirmed forces are on the ground.
  • The real haven flow on Friday has seen the Swiss Franc outperform all others in G10. EURCHF trades down 1% on the session and the move has been exacerbated by the break below the year’s lows at 0.9516, triggering an extension to lows of 0.9457 as of typing. The next notable downside target resides at 0.9410, the September 2022 lows.
  • GBPUSD also trades with a downward bias, continuing to grind lower throughout the US session with US PPI, CPI and the University of Michigan inflation expectations data all beating expectations this week and underpinning the greenback recovery. For now, last week’s fresh cycle lows remain in view, which has reinforced bearish conditions over the medium-term. 1.2028, the Mar 16 low will be the key downside target and any short-term gains are considered corrective.
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.