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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 AccessAUD/USD Back Sub 0.6900
AUD/USD got just above 0.6930 post the Asia close, fresh highs back to late June, before sliding back underneath 0.6900. We currently sit at 0.6890.
- Cross asset signals were generally positive for the A$, although the USD firmed, due to EUR weakness amid Italian political turmoil. The DXY is back above 107, +0.30% in the past 24 hours. A$ outperformed the EU bloc of currencies.
- AUD/EUR sits at 0.6765, close to multi week highs. AUD/JPY sits at 95.25, albeit down from yesterday's highs of around 95.75.
- Equities were higher, although more so in the US, while the VIX fell back sub 24% and is now sub the 200-day MA for the first time since April.
- Commodities also rose, with the Bloomberg aggregate index up 1.3%, while base metals rose close to 2%. Copper was up just under 1%, but iron ore edged back down through $100.
- Yield spreads continue to firm in AUD's favor. The AU-US 2yr spread is back close to -40bps, up from lows around -60bps a week or so ago. Yield momentum has been buoyed by RBA speak this past week.
- The data calendar is quiet today, with just NAB 2Q business confidence out, along with RBA FX transactions.
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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.