Free Trial

AUD/USD Back Above 0.7100, But AUD/NZD Threatening 100 Day MA


AUD/USD is back above 0.7100, recovering from an earlier dip to 0.7090. The pair last tracked at 0.7115, fresh highs for the session. As has been the case this week though, Asian time zone trading ranges have remained fairly tight. The A$ is seeing modest outperformance on crosses, most notably against JPY, with AUD/JPY making fresh highs back to late July at 94.75. AUD/NZD continues to slide though, eyeing a test of the 100 day MA, at 1.1007.

  • Cross asset sentiment has been mixed in the equity space, with regional Asia Pac equities struggling for clear direction. US futures are holding modest gains though (+0.10% to +0.20%).
  • Commodities are off a touch, with Brent lower, while copper and iron ore are also down. These latter two commodities are very much within recent ranges though.
  • AUD/USD is getting support on the yield front. AU-US 2yr spreads are through -40bps and around -35bps now, which is multi week highs.
  • Yield momentum still looks favourable against NZD, but this is not yet translating into AUD/NZD stability/support. The cross is 1.1025/30 last, smalls higher from earlier lows around 1.1015.

To read the full story



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.