MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: US JUN PERSONAL INCOME +0.2%; NOM PCE +0.3%

Monthly Retail Sales Volatility Obscures Still-Positive 3m/3m Trend

Retail Sales Grow Slightly In June, Consistent With Surveys

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

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

USD/JPY Pullback Opens Further Gap With Cycle High

FOREX
  • Amid unrest in the Middle-east, a rallying oil price and the partial absence of US market participants, a risk-off feel dominated currency markets into the Monday close. USD/JPY fell comfortably back below the Y149.00 handle, opening a more sizeable gap with the recent cycle high at 150.16.
  • Oil-tied currencies saw a solid tailwind on the back of the rallying Brent and WTI crude price. Resultingly, NOK remained the G10 outperformer, while the uncertain geopolitical backdrop dragged SEK, which traded along with the EUR as the session's poorest performer. After finding support at parity last week, NOKSEK eyes the 200-day EMA at 1.0200 as the next key level. Above this, the 50-day EMA at 1.0247 is the bull trigger.
  • The EUR traded poorly, falling against all others as a core EGB rally took. Short-term momentum across the German front-end prompted the downtrend in Schatz and Bobl futures to be reversed, prompting a ~10bps move lower in the German front-end. Resultingly, EUR lagged all others, helping EUR/GBP finish lower for a sixth consecutive session.
  • Focus Tuesday turns to Australian consumer confidence, Italian industrial production and final US wholesale inventories data for August. The NY Fed also release their 1yr inflation expectations survey later in the session. Central bank speakers include Fed's Perli, Bostic, Waller, Kashkari & Daly as well as ECB's Villeroy.
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.