CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUD/NZD Pull Back Stops Short Of 100-day EMA

AUDNZD
BulletMarketsForeign Exchange BulletsHomepage

The AUD/NZD cross got close to its 100-day EMA post the hawkish hold from the RBNZ earlier. Lows were at 1.0861, the 100-day EMA is just under this level, see the chart below. We sit slightly higher now, last near 1.0890.

  • Upside resistance may be around the 20-day EMA in the near (close to 1.0940), as this acted as a resistance point recently, while through much of April and the first part of May was a support point.
  • The AU-NZ 2yr swap rate sits off recent highs, last around -75bps, down around 9bps so far today. We are comfortably above earlier YTD lows of -115bps seen in Feb.
  • In the option expiry space, there are no strikes for May 22, upcoming notable strikes include; 1.0900 ($100m) May 23, 1.1000 ($100m) May 24, 1.0825 ($101.62m) May 24.
  • Looking ahead, NZ Q1 retail sales prints tomorrow, while consumer confidence and April trade figures are out on Friday. In Australia, consumer inflation expectations print tomorrow, then next week we get April retail sales and April CPI.

Fig 1: AUD/NZD Versus Key EMAs

Keep reading...Show less
192 words

To read the full story

Close

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.

The AUD/NZD cross got close to its 100-day EMA post the hawkish hold from the RBNZ earlier. Lows were at 1.0861, the 100-day EMA is just under this level, see the chart below. We sit slightly higher now, last near 1.0890.

  • Upside resistance may be around the 20-day EMA in the near (close to 1.0940), as this acted as a resistance point recently, while through much of April and the first part of May was a support point.
  • The AU-NZ 2yr swap rate sits off recent highs, last around -75bps, down around 9bps so far today. We are comfortably above earlier YTD lows of -115bps seen in Feb.
  • In the option expiry space, there are no strikes for May 22, upcoming notable strikes include; 1.0900 ($100m) May 23, 1.1000 ($100m) May 24, 1.0825 ($101.62m) May 24.
  • Looking ahead, NZ Q1 retail sales prints tomorrow, while consumer confidence and April trade figures are out on Friday. In Australia, consumer inflation expectations print tomorrow, then next week we get April retail sales and April CPI.

Fig 1: AUD/NZD Versus Key EMAs

Keep reading...Show less