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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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Free AccessMNI China Daily Summary: Wednesday, December 11
USD, Stocks Remain Closely Tied as Greenback Fade Continues
- Price action across the USD continues to closely mirror equities here, as the USD Index plumbs new lows and the e-mini S&P creeps higher still - despite little movement in US yields since the European open. Few news or headline drivers so far, with denial reports that Putin is feeling out Ukraine peace talks failing to dampen the USD weakness/stock bounce.
- Currency volumes so far today are mixed, with above-average EUR activity countered by slightly quieter GBP and JPY futures markets. USD slippage most notable against CHF so far today, keeping USD/CHF either side of the 50-dma, which has proved a strong magnet for prices across the past fortnight. 0.8607 remains the first support, and weakness through opens 0.8577 and below.
- Despite solid direction so far Friday morning, few major pairs have tested or topped yesterday's highs - with EUR/USD needing a ~40 pip rally to test 1.0902. Although GBP/USD is just 10 pips shy of the Thursday high.
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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.