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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.
FOREX
- Net long specs on the US Dollar ticked lower in the week ended April 12 despite the USD spike, decreasing by 21.4K to a total of 81.2K contracts.
- Speculative positions against the Yen continue to grow, reaching their highest level since November 2018 (+111.2K) as investors have become increasingly bearish on JPY amid monetary policy divergence.
- The global risk off environment triggered by the renewed geopolitical tensions has been supporting ‘safe-haven’ assets such as the US Dollar and Gold.
- The DXY index broke above the psychological 100 level last week and is currently testing its 101 resistance.
- Key resistance to watch on the topside stands at 102.98, which was the high reached in March 2020 following the Covid19 shock.
- On the downside, support to watch stands at 99.7290, which corresponds to the 76.4% Fibo retracement of the 89.21 - 102.98 range.
Source: Bloomberg/CFTC/MNI
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.
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