Free Trial

Very little to report for the G10 pairs in....>

FOREX
FOREX: Very little to report for the G10 pairs in early Asia trade, with tight
ranges in play.
- MXN is the early mover, with USD/MXN trading 4 figures or so higher at
MXN20.1499 last, with the latest leg higher seemingly linked to Argentina
seeking to "re-profile" its sovereign debt obligations. USD/MXN has broken above
trendline resistance which dates back to December 2016, trading as high as
MXN20.1852 in the process. As a reminder, Wednesday saw Banxico cut its 2019 &
2020 GDP outlook, and trim its job growth forecast. The central bank also looks
for slower inflation in H219, and pointed to a data dependent outlook.
- Australian Q2 CapEx & the latest NZ ANZ business confidence survey provide the
highlights of the Asia-Pacific docket. Elsewhere, the daily USD/CNY fixing will
provide interest, with one eye also on the lookout for Sino-U.S. trade war
related headlines. Also worth highlighting that BoJ's Suzuki will speak.
- Looking ahead to European hours, German state & national CPI readings as well
as EZ confidence metrics provide the highlights ahead of the second estimate of
Q2 U.S. GDP.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.