MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD Resilience Not Sustained

FOREX

Early USD resilience has given way to weakness. The BBDXY currently back sub 1237, -0.10/0.15% off NY closing levels. AUD has led the way, first boosted by positive data and then later rising commodity prices.

  • The AUD/USD currently sits above 0.6920, close to Tuesday highs, while on Monday we capped out around the 0.6950 level. We are 0.50% higher for the session. Better retail sales and CPI data boosted the AUD, but this didn't last, with little follow through response in the fixed income space. Iron ore above $120/ton and rising copper ($409 for CMX) have aided sentiment this afternoon, as optimism around firmer China demand remains a key theme.
  • A firmer tone to regional equities has also helped.
  • NZD/USD is next best at 0.6380/85, +0.20% for the session.
  • USD/JPY found selling interest above 132.50 and last tracks under 132.20, still lagging the broader USD move at the margins. Lower US cash Tsy yields likely helped cap gains in the pair.
  • EUR/USD is back to 1.0750, the pair not too far off recent highs around 1.0760.
  • Looking ahead, the data calendar is light ahead of tomorrow's US CPI print.
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.