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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.
NZD
- The AUD/NZD closed the session down 0.16% at 1.0831, the cross trades towards the bottom of recent ranges now after failing to break back above the upwards trendline.
- Initial support remains at 1.0800 (Aug 29 lows) below here the June lows of 1.0733 is the next major support. To the upside a break back above the trendline at 1.0900 would be needed to test key moving averages which sit in 1.0910-1.0940 area.
- RBA dated OIS was pricing in a full cut on Wednesday, we have since cooled a touch to 23bps of cuts into year-end, looking through to July next year there is currently 3 full cuts priced, at contrast to the 7bps of cuts from the RBNZ
- The AU-NZ 2yr swap spread was 5bps higher and now trade flat, the highest level since Aug 19th. There has been a notable breakdown in the correlation between the 2yr swap spread of the AUD/NZD, see chart
- There are no notable upcoming expiries
- Today, we have loan values at 1130 EAST/ 930 HKT
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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