Free Trial
GILTS

Opening calls

MNI EXCLUSIVE

New Zealand

EURIBOR OPTIONS

Put spread buyer

GOLD

Extending gains

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
CABLE
MNI (London)
CABLE: Wednesday's break below technical support at $1.2248 exposed the Apr7 low
of $1.2166 which was duly tested in early NY as risk was dealt another blow by
the release of higher than expected US Weekly Jobless Claims. Rate managed to
pare losses, traded back to $1.2219 before momentum faltered. Rate then eased
off to $1.2179 through the 1600BST fix before recovering to $1.2210 at the
Europe close. Risk remains a key driver, US Trump considering further punitive
action vs China due to COVID-19 has added further negative weight on stock
markets. Cable support now seen at $1.2180, stronger into $1.2166. A break here
to open a deeper move toward $1.2135/30 ahead of $1.2100. Resistance $1.2220/30,
stronger into $1.2250. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.