MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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

ASIA: AUD/NZD Trades Sideways Ahead Of RBA

ASIA
EM BulletAPACEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • The AUD/NZD traded sideways on Monday, closing the session down 0.02% at 1.0912. Focus today will be all on the RBA, although there is very little chance of a change in rates, wording will be important. Last meeting the signaled little chance of a rate cut this year, although the market has at times been pricing one in for December.
  • The OIS market ahead of the RBA meeting is pricing 16bps of cuts through to the end of the year, or just over 50% chance of a cut. Looking further out the market is pricing in 96bps through to August.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • The AU-NZ 2yr swap spread closed 2bps higher on Monday, making new monthly highs, and now trading just below the yearly highs made Aug 16th
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have the RBA announcement at 1430 AEST / 1230 HKT
179 words

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.
  • The AUD/NZD traded sideways on Monday, closing the session down 0.02% at 1.0912. Focus today will be all on the RBA, although there is very little chance of a change in rates, wording will be important. Last meeting the signaled little chance of a rate cut this year, although the market has at times been pricing one in for December.
  • The OIS market ahead of the RBA meeting is pricing 16bps of cuts through to the end of the year, or just over 50% chance of a cut. Looking further out the market is pricing in 96bps through to August.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • The AU-NZ 2yr swap spread closed 2bps higher on Monday, making new monthly highs, and now trading just below the yearly highs made Aug 16th
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have the RBA announcement at 1430 AEST / 1230 HKT