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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.
AUD
AUD/EUR firmed through its 20-Day EMA printing its highest level since 13 July, the EUR was pressured as the latest ECB banking survey showed the fastest contraction on record for corporate loan demand. A soft German IFO release also weighed.
- The pair last prints at €0.6140/45 and now sits ~2% above the lows registered on 19 July.
- Bulls now target the high from July 15 (€0.6159), a break through here opens the high from 20 June (€0.6227) and the 200-Day EMA (€0.6272).
- On the downside bears immediate focus is on the 20-Day EMA (€0.6106). A break through here opens low from July 19 (€0.6023) and year to date lows at €0.5959.
- Due to cross in ~2.5hours we have Q2 CPI, which is estimated to tick lower to 1.0% Q/Q. The June CPI print also crosses, a downtick to 5.4% Y/Y is expected.
Fig 1: AUD/EUR 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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