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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 fell ~1.4% on Tuesday as waning risk sentiment, First Republics disappointing earnings rekindled fears over the US banking system, and lower US Treasury Yields weighed on the pair.
- We now sit ~2.5% below April highs seen last week. The pair was unable to sustain a break above ¥90 last week, resistance came in ahead of the 200-Day EMA (¥90.83). Losses extended below the 20-Day EMA yesterday and we last print at ¥88.50/60.
- Bears now target low from April 6 at ¥87.59, a break through here open year to date lows at ¥86.06.
- Bulls first target the 20-Day EMA (¥89.35), from here they look to sustain a break above ¥90.
- Australian Q1 and March CPI data is on the wires shortly, Headline is forecast to rise 6.9% Y/Y (Q1) and 6.5% Y/Y (March) and trimmed mean Q1 CPI is forecast to rise 6.7% 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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