Free Trial

USD soft across the board, strong UK..........>

FOREX
FOREX: USD soft across the board, strong UK Employment Report
- Amid the backdrop of improving risk appetite, the dollar remained soft across
the board through Europe. The DXY briefly traded under the 50-dma to 94.88, gold
improved on the session to $1197.
- GBPUSD continued to garner support following yesterday's positive Brexit
remarks. The Uk Employment report was strong with decent gains seen in the
average weekly earnings component. GBPUSD spiked above 1.3080 on react followed
by en equally quick move back under $1.3000 with no source info behind the move.
The rate later stabilised $1.3035/40.
- EURUSD touched highs of $1.1644, but soon pared gains on the sharp GBPUSD
move. German ZEW came in above expectations to hold $1.1610/15.
- USDJPY consolidated Asia gains to Y111.57, before stalling around cloud top
resistance. JPY crosses benefited from the improved risk appetite with EURJPY &
CADJPY both challenging the 100-dma.
- AUDUSD's failure to break higher keeps the recent downtrend intact with bears
looking at the 0.7000 level.

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.