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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.
AUD
AUD/EUR has fallen ~2.5% through February, yesterday printing its lowest level since late December at $0.6343.
- EUR gained yesterday as the EU and UK reached a Brexit deal over Northern Ireland.
- In the rates space ECB terminal rates pricing has risen in OIS markets from 3.65% to ~3.9% over the last week. RBA dated futures have shown the terminal rate steady at ~4.3%.
- The 2yr AU-EU swap spread has shifted down by 15bps over this period, back to +37bps, from recent highs around +53bps.
- Technically the pair is in a downtrend. Bears look to target the low from Dec 2022 at $0.6259. Bulls first look to break the 20-Day EMA at $0.6429 to turn the tide.
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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