MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A$ Outperforms As Debt-Ceiling Issue Almost Solved

AUD

The Aussie was buoyed by stronger equity markets driven by increased optimism that a debt-ceiling deal would be made. It has been but now needs to pass through both houses. AUDUSD is up 0.3% to 0.6525 down from Friday’s intraday high of 0.6552. The USD index rose off its lows to finish the day flat.

  • The AUDUSD broke through 0.6565, the March 10 low, last week. This confirms the resumption of the bear cycle that started on February 2 and highlights a range breakout. Initial support is at 0.6491 and resistance at 0.6574, the April 28 low.
  • Aussie is flat versus the pound at 0.5283 but up against other major crosses. AUDNZD is 0.5% higher to 1.0780. AUDJPY is up 0.8% to 91.82 and AUDEUR +0.3% to 0.6083.
  • Equity markets were higher with the S&P up 1.3% and the Eurostoxx +1.6%. S&P futures are up strongly on the debt-ceiling deal. WTI oil prices rose 1.5% to $72.67/bbl. LME metal prices rose 1.5% on Friday to be down 0.5% on the week. Iron ore is back above $100 again at $101.30/t.
  • There are no events scheduled in Australia today. The US and UK are closed. The focus of the week is likely to be RBA Lowe’s appearance and April CPI data on Wednesday.
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.