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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.
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Free AccessMNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22
MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday
AUD Corrective Bounce Fades, Focus Returns Lower
- AUD/USD remains toward the bottom-end of the day's range, but has found some support ahead of 0.6642, yesterday's low. Prices are now chewing through the corrective bounce off 0.6596, which marks a key level for any further breakout lower.
- AUD/USD options markets are among the few seeing slightly above-average volumes for this time of day, largely due to solid demand for downside hedges: with close to $3 in puts trading for every $2 in calls so far Wednesday. Sizeable put strikes traded between 0.6685-0.6515, but downside demand has also been noted as low as 0.6050 and 0.5840 today.
- Trades follow the slowdown in final PMIs today (composite dropped to 50.1 today) as well as heightened speculation around the potential transition for the next RBA governor: Lowe's term expires in September, with Treasurer Chalmers set to announce this month whether Lowe's term will be extended, or a new governor could take over. The Australian posits that Treasury secretary Steven Kennedy is the frontrunner, and an announcement could be made inside two weeks.
To read the full story
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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.