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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 AccessA$ Pressured By Neutral RBNZ, Retail Sales Coming Up
Aussie underperformed as it came under pressure from the less hawkish RBNZ outcome which resulted in kiwi falling the most in the G10. Softer equities also added to the downward pressure. AUDUSD trended lower through APAC trading and the European morning and then stabilised around 0.6490/0.6500. The pair fell 0.8% to 0.6494, close to the intraday low of 0.6489. The USD index rose 0.1%.
- AUDUSD approached initial support at 0.6478. The bear trigger is at 0.6443. On the upside, a clear break of 0.6573, 50-day EMA, is needed to suggest a stronger recovery.
- AUDNZD is up 0.5% following the RBNZ announcement. It reached a high of 1.0687 during the APAC session and has eased off a bit to be around 1.0654.
- AUDJPY is 0.6% lower at 97.87, close to the intraday low of 97.81. AUDEUR has broken below 0.6000 as it fell 0.7% to 0.5992. AUDGBP is down 0.6% to 0.5129.
- Equities were generally softer with the S&P down 0.2% and the Euro stoxx slightly lower. Oil prices fell with Brent down 0.8% to $81.97/bbl. Copper is down 0.4% and iron ore is around $115/t.
- Today January retail sales and private credit plus Q4 capex are released. Retail spending is forecast to partially rebound from December’s drop by 1.5% m/m.
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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.