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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 firmed 0.7% yesterday printing at the highest level since 21 April printing at £0.5405 before marginally paring gains. The pair has ticked away from the 20-Day EMA since breaking above the measure post-RBA last week.
- Pre-event risk positioning as US CPI and the latest FOMC rate decision loom, dictacted flows yesterday with GBP pressured trimming recent gains.
- Having been unable to sustain yesterday's break of £0.54, bulls first target a break of the handle which opens the 200-Day EMA (£0.5508).
- On the downside bears look to break the 20-Day EMA (£0.5335) to target low from 31 May at £0.5212.
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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