FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 On Dovish Fed, Employment Data Coming Up

AUD

Aussie outperformed a G10 that all rose against the greenback following a dovish Fed and Chair Powell stating that the FOMC is thinking about rate cuts. The subsequent equities rally also boosted AUD. AUDUSD jumped from 0.6572 to 0.6673 when projections were released showing a 50bp downward revision to rates in the next year. It is currently up 1.7% to 0.6668 The USD index sank 0.9%.

  • AUDUSD approached the bull trigger at 0.6691, December 4 high, but is yet to breach it. Clearance would confirm the resumption of the uptrend and open 0.6747. In Asian trading on Wednesday the pair cleared support at 0.6557, 20-day EMA, when it fell to a low of 0.6542.
  • AUDNZD is up 0.6% to 1.0756. It rose to a high of 1.0767 early in the European session following partial data showing softer Q4 inflation. AUDJPY is flat at 95.41. AUDEUR rose 0.9% to 0.6132 and AUDGBP +1.2% to 0.5286, both close to their intraday highs.
  • Equity markets were mixed with the S&P rallying 1.4%, FTSE +0.1% but Euro stoxx down 0.1%. VIX was slightly higher at 12.2%. Oil prices unwound some of Tuesday’s losses with Brent up 1.9% to $74.60/bbl. Copper rose 1.3% and iron ore is $134-135/t.
  • Today the November employment data print and new jobs are expected to rise 11.5k and the unemployment rate tick up 0.1pp to 3.8%. MI inflation expectations for December are also out.
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.