MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A$ Outperforming On Better Yield Momentum

AUD

AUD/USD is firming a touch, the pair back to 0.6705/10. This is slightly up on NY closing levels. A$ outperformance is more evident on a cross basis, doing better than the rest of the G10. Yield momentum is positive in the 2yr, up +7.5bps to 3.16%, after a local bank raised its call to a 50bps move at the October RBA meeting (from 25bps prior) post Lowe’s testimony.

  • The AU-US 2yr spread is in from recent wides, back to -69bps, versus earlier levels around -72bps.
  • The AUD/NZD cross is back to 1.1250 on similar drivers.
  • Weakness is evident in commodity prices. Iron ore is down to $99/tonne, while copper is off by 0.6% to $347. Neither metal has received much lasting support from the better China activity data. Iron ore’s pike to $101/tonne was short lived.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.