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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/JPY has firmed ~2% off 2023 lows seen last Thursday at ¥86.06, to last print at ¥87.65/75.
- Rising US Treasury yields, the 2 Year Treasury Yield is back above 4%, and firmer commodity prices, Iron Ore futures are up ~4% from Thursday, have been the main drivers of the recovery in the cross.
- The technical trend remains bearish. Bears look to target ¥85.00, a break through here opens the bottom of the bear channel at ¥83.58.
- Bulls first look to break the 20-Day EMA at ¥88.82 to turn the tide.
- The next event risk for the pair is today's February CPI print from Australia. The release has been highlighted by RBA Gov Lowe as a key input into next week's board meeting. The market looks for 7.2% Y/Y outcome, the prior read was 7.4% Y/Y.
Fig 1: AUD/JPY 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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