FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUD/GBP: Pressured Below £0.51, 20-Day EMA On Tuesday

AUD

AUD/GBP had its weakest day since late July, falling ~0.8% breaching the £0.51 handle and the 20-Day EMA (£0.5104). The cross now sits at its lowest level in two weeks.

  • In early trading on Wednesday AUD/GBP last prints at £0.5070/75.
  • The downtrend in the pair remains intact, bears target a break of cycle lows (£0.5007) which opens £0.4862 a Fibonacci projection and the March 2020 low at £0.4795.
  • To turn the tide bulls look to breach the high from 4 Sep (£0.5137), from here they can target the high from 2 Aug (£0.5182), a break through here opens the high from 31 July (£0.5247). The 200-Day EMA comes in at £0.5355.
  • Australia's Q2 GDP is due in Asia today, a rise of 0.4% Q/Q is expected. Further out we have UK Construction PMI for August, the measure is expected to dip into contractionary territory.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

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.