Free Trial
US

MNI POLITICAL RISK - US Daily Brief

US TSYS

Repo Reference Rates

STIR

Feb'23 SOFR Strangles, Covered Calls

US TSYS

Early SOFR/Treasury Option Roundup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

A$ Surges Back Above 0.6600, As USD Plunges On CPI Miss

AUD

AUD/USD is above 0.6600, fresh highs back to late September. The pair is up 2.90% over the past 24 hours, as the USD suffered heavy losses post the US CPI miss. On the topside for the AUD, the September 23 high sits at 0.6656, while the 100-day EMA is a little higher at 0.6668. On the downside, the November 8 high is at 0.6551, while the 50-day EMA is at 0.6514. which could offer support.

  • US yields plunged post the CPI miss, 2yr down 25bps to 4.33%. Market expectations of a lower pace of Fed hikes (50bps) now priced in for the December meeting.
  • The S&P500 is up over 5%, while the VIX plunged to 23.40%, lows back to mid September. Still the AUD wasn't the best performed in the G10 space, with JPY topping the leader board (+3.65%), likely due to sensitivity to UST moves. AUD/JPY is back sub 93.50, but saw support below 93.00.
  • Commodities were higher, copper +2% to $378 (CMX), while iron ore is back above $88/tonne. Metals generally outperformed oil, with Brent posting a more modest 0.90% rise.
  • The local data calendar is empty today, with the next major focus point on Tuesday next week when the RBA Minutes will be published.
206 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

AUD/USD is above 0.6600, fresh highs back to late September. The pair is up 2.90% over the past 24 hours, as the USD suffered heavy losses post the US CPI miss. On the topside for the AUD, the September 23 high sits at 0.6656, while the 100-day EMA is a little higher at 0.6668. On the downside, the November 8 high is at 0.6551, while the 50-day EMA is at 0.6514. which could offer support.

  • US yields plunged post the CPI miss, 2yr down 25bps to 4.33%. Market expectations of a lower pace of Fed hikes (50bps) now priced in for the December meeting.
  • The S&P500 is up over 5%, while the VIX plunged to 23.40%, lows back to mid September. Still the AUD wasn't the best performed in the G10 space, with JPY topping the leader board (+3.65%), likely due to sensitivity to UST moves. AUD/JPY is back sub 93.50, but saw support below 93.00.
  • Commodities were higher, copper +2% to $378 (CMX), while iron ore is back above $88/tonne. Metals generally outperformed oil, with Brent posting a more modest 0.90% rise.
  • The local data calendar is empty today, with the next major focus point on Tuesday next week when the RBA Minutes will be published.