MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

USD Index Unchanged As Markets Stabilise

FOREX
  • As concerns over US banking stability abated compared to the panic of the prior two sessions, the USD index is unchanged as we approach Tuesday’s APAC crossover. Stronger equity markets overall and the lower yields at the front-end of the US curve have weighed on the JPY, whereas risk-tied AUD, NZD and CAD have all outperformed.
  • Over the US CPI data, USDJPY (+0.64%) aggressively whipsawed and price action eventually prompted a 134.90 print, an impressive recovery from the 132.29 low. Prices have since moderated back to the 134.00 mark ahead of the close and overall, last Friday’s move lower and Monday’s bearish extension, highlights potential for a deeper corrective pullback.
    • The pair has traded below support at 134.22, the 50-day EMA. Traders will continue to monitor a clear break of this average which strengthens a short-term bearish threat and exposes 131.31, a Fibonacci retracement point.
  • EURUSD has consolidated recent gains on Tuesday and is hovering just below the most recent highs around 1.0750 in late US trade. Price action has strengthened a short-term bull theme and targets 1.0779 next, a Fibonacci retracement, ahead of Thursday’s ECB rate decision.
  • Bank of Japan minutes kick off Wednesday’s docket, followed by Chinese activity data. Later on Wednesday, US PPI, retail sales and empire state manufacturing index data will be in primary focus.
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.