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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.
AUDNZD
AUD/NZD prints close to 1.1030, ~0.15% firmer in Monday's session.
- The pair closed above $1.10 on Friday, bulls are targeting a break of the 11 Nov high at $1.1045 opening up $1.1101, which is a 61.8% retracement of the Sep-Dec down leg.
- Bears target Feb lows at $1.0889.
- 2-Year Rate Differentials have widened ~4bps today, last dealing -99bps. The spread has tightened ~63bps since its December cycle low, printing its narrow level since early October on Friday at -94bps.
- Wednesday's RBNZ meeting presents the next macro risk event for the pair. Pricing in OIS markets has remained stable in recent dealing with ~45bps of tightening priced into the meeting, and the terminal rate of ~5.3%.
Fig 1: AUD/NZD Daily Spot & EMAs
Source: MNI/Bloomberg
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.
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