-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUSD Index Reaches Highest Level Since 2002 Amid Yield Surge
- The greenback maintained its upward trajectory on Monday, briefly breaching the May highs above the 1.0500 mark and in doing so, registered the highest print for the index since 2002.
- The upward trajectory for global yields continues to underpin the supportive price action for the USD, weighing on most other G10 currencies.
- The significant weakness in global equity benchmarks weighed heavily on the likes of AUD, NZD and GBP. AUDUSD is the poorest performer, having retreated 1.60% from last Friday’s close. The extension lower has prompted a breach of support at 0.6950, May 18 low. The focus now turns to the technical bear trigger at 0.6829, May 12 low, where a breach of this level would resume the broader downtrend.
- The outlier during the US session on Monday was a strong reversal in the Japanese Yen. Early greenback strength had resulted in USDJPY testing above 135.00 during the APAC session, the highest level since 1998. However, waning risk sentiment eventually boosted the Japanese Yen, which recovered around 1% from its worst levels. Despite the move lower, USDJPY conditions remain bullish and initial firm support is not seen until 130.60, the 20-day EMA.
- GBPUSD (-1.27%) extends recent weakness on the back of a poorer-than-expected monthly GDP release, with April GDP contracting by 0.3% in what's expected to be a rocky few quarters for the economy. Furthermore, negative headlines resurfacing between the UK and the EU regarding the Northern Ireland protocol bill add a layer of political significance behind the GBP weakness.
- The bear trigger at 1.2156, the May 13 low, has been breached and a sustained break of this level would confirm a resumption of the broader downtrend.
- Tuesday’s data calendar includes UK unemployment and German ZEW sentiment readings. US PPI provides the last look at inflation before Wednesday’s FOMC decision/projections.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.