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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.
USD
- Renewed pessimism across equity markets is boosting the greenback ahead of Chair Powell’s speech later this afternoon. The USD index briefly printed a new intra-day low following the weaker than expected MNI Chicago PMI, however, dampened risk sentiment has filtered through and sees the DXY printing fresh highs on Wednesday.
- EURUSD breached a cluster of short-term highs above 1.0390 to print 1.0400 before reversing in line with the broader greenback move. A new daily low was just registered by 3 pips from overnight at 1.0316.
- Monday’s price action and bearish close highlights a possible top which in pattern terms, is a shooting star candle - a reversal signal. An extension lower would expose key support at 1.0223, Nov 21 low.
- Worth noting on option expiries for Thursday’s NY cut there is 1.14bn expiring at 1.0300.
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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