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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/GBP has firmed ~2.3% since printing cycle lows in late April, breaking above the 20-Day EMA on Monday which had capped rallies in the pair since we broke below the measure in February.
- Stronger commodity prices, Bloomberg Commodity Index rose ~0.7%, saw the pair firm ~0.5% on Monday and we now sit at £0.5370/80.
- Bulls first look to target the high from April 14 at £0.5434, this opens up £0.5480 (high Apr 3) and £0.5557 (200-Day EMA).
- Bears immediate attention is on the 20-Day EMA (£0.5358), a break through here opens year to date lows at £0.5253.
- The next risk event for the pair is Thursday's Bank of England monetary policy decision. The bank is expected to raise the bank rate 25bps to 4.50%.
Fig 1: AUD/GBP 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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