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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 looked through yesterday's considerable move in Gilts, a further ~145bps of tightening is now priced into the BoE's cycle, after finding support at the 20-Day EMA in Asia.
- Ranges remained narrow with little follow through in the European session. The pair last prints at £0.5355/60.
- On the downside bears look to break the 20-Day EMA (£0.5345) to target low from 31 May at £0.5212.
- Bulls first target a break of the high from 12 June (£0.5405) which opens the 200-Day EMA (£0.5501).
- The RBA minutes of the June policy meeting are on tap in just under two hours. Further out we have May CPI report from the UK.
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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