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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/GBP printed a fresh cycle low on Monday falling below the £0.52 handle before marginally paring losses. Weaker-than-forecast Chinese inflation data and GBP reinforcing bullish trend conditions weighed on the pair.
- The pair fell ~0.4% and last prints at £0.5190/95 sitting ~11% below early February highs.
- On the downside bears now target the £0.50 handle, a break through here opens lows from March 2020 at £0.4795.
- Bulls first look to break yesterday's high at £0.5217, from here they can target the 20-Day EMA (£0.5255).
- May UK Employment data is on tap today, ILO unemployment rate is expected to hold steady at 3.8% and Average Weekly Earnings Growth is forecast to tick higher to 6.8% Y/Y.
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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