Free Trial

- Weekend Brexit comments from PM.............>

FOREX
FOREX: - Weekend Brexit comments from PM May(ruling out second referendum) and
EU Brexit negotiator Barnier(opposes Chequers plan) had sterling under pressure
in early Asia, downside pressure given added weight during the European morning
on release of soft UK Manufacturing PMI data. Rate touched an extended low of
$1.2855. UK Parliament returns Tuesday, Brexit comment expected to increase. 
- Reports of BOE Governor Carney in discussion to extend his tenure, possible
announcement at TSC Tuesday 1215GMT.
- EUR/USD only slightly bruised as release of regional EZ PMI data missed
expectations, the rate able to extend its recovery to $1.1628, but reported
resistance to $1.1630 provided a decent counter. 
- AUD touched 20-month lows of $0.7166 during domestic trade on back of soft
Retail Sales, recovery through Europe saw rate edge to $0.7224.
- USDJPY continued to lack any meaningful direction and was held to a narrow
110.85-111.19 range.
- Trading volumes were light as US & Canada observed their respective Labor Day
holidays.

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.