MNI BRIEF: NZ Unemployment At 5.1% Over Q4

This is a test from mni

TRUDEAU SAYS TARIFFS WILL BE PAUSED FOR AT LEAST 30 DAYS

MNI CNB WATCH: Steer Means 25Bps Cut To 3.75% "Very Likely"

MNI BRIEF: US Treasury Lowers Q1 Borrowing Estimate By $9B

MNI BRIEF: Fed's Bostic In Wait And See Mode On Rates

EZ/UK T-Bill Calendar: 3/6/12-Month EU-Bills Auction Wednesday

EZ/UK Bond Supply Calendar: Green Gilt Auction on Wednesday

EZ/UK Bond Supply Calendar: Green Gilt Auction on Wednesday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Antipodeans on Top Ahead of Expected Fed Skip

FOREX
  • The Fed decision takes focus going forward, with consensus and markets looking for the FOMC to keep rates unchanged - pausing their tightening campaign for the first time in this cycle.
  • Headed into the decision itself, the USD is mid-range and toward June's lower levels, but the USD index has found some support at the 100-dma of 103.043. Any post-Fed weakness would open the 50-dma below for direction at 102.613 ahead of levels last seen in early May.
  • Elsewhere, AUD/USD trades in the midst of the longest streak of higher lows in six years. The pair's rally off the May31 low has seen higher lows for 10 consecutive sessions, the longest such streak since end-2017, which extended to 16 consecutive trading days and spanned a ~5% rally. Price has recently cleared 0.6733, 76.4% of the downleg in May, reinforcing current conditions and this signals scope for a test of 0.6818, the May 10 high and a key resistance.
  • AUD outperformance continues to stem from more solid industrial commodities prices (China iron ore prices are up 20% off the late May low), compounding the impact of the more hawkish RBA decision.
  • Outside of the Fed decision, the May PPI report will also be keenly watched, after yesterday's inflation release cleared the decks for a Fed pause later today. Markets watch for PPI to to slow moderately on a final demand basis, falling 0.1% on the month from April's +0.2%.
Energy BulletsCommodities
Energy BulletsCommodities

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.