MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

USD Index Moderately Lower Following FOMC Press Conference

FOREX
  • As the FOMC press conference progressed, the greenback traded on the backfoot and the USD index (-0.32%) extended to fresh session lows as Powell remained non-committal around the September decision.
  • The Japanese yen has outperformed Tuesday which prompted USDJPY to slide back briefly below 140 and narrow the gap with initial resistance at 139.75.
  • In similar vein, EURUSD makes gradual progress to the topside, printing a fresh high for the day at 1.1107 before creeping back below the 1.11 handle as we approach the APAC crossover. The pair remains way off the week’s highs around 1.1147.
  • The Australian dollar remains one of the poorest performers across G10, after the lower-than-forecast CPI print for Q2. Importantly, the trimmed mean and weighted median releases were softer than expected, helping drag AUDUSD back toward first support at 0.6725, the 200-day moving average. EURAUD has unwound a solid portion of the weakness seen to begin the week, that had largely stemmed from the poorer European data and stimulus hopes in China.
  • Focus quickly turns to the ECB with its rate decision and press conference on Thursday. Beyond indicating a willingness to tighten further, if necessary, the ECB is unlikely to pre-commit to an additional policy rate hike in September. Attention will also be on the Advance reading of Q2 GDP from the US, before Friday’s Bank of Japan meeting.
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.