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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/JPY is higher, last tracking above 98.10, slightly off session highs of 98.235. This is close to the 20-day EMA (98.43 based off Tuesday closing levels). Tests above this resistance point haven't been sustained in recent weeks, see the chart below.
- AUD/USD is testing above 0.6800, a key resistance point. The monthly CPI print for July was slightly above expectations, and not giving any ammunition to rate cut views before year end. Local bond yields are higher across the curve.
- On the USD/JPY side, we have seen a steady push higher post an early dip sub 143.70. We were last 144.30, around 0.25% weaker in yen terms.
- BoJ Deputy Governor Himino is currently speaking and is not deviating dramatically away from what Ueda has said recently. The central bank must be vigilant to market volatility, but can adjust the degree of easing if certainty around the outlook firms.
Fig 1: AUD/JPY Unable To Sustain Breaches Of 20-day EMA So Far In August
Source: MNI - Market News/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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