MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1894 Thurs; -1.38% Y/Y

MNI BRIEF: Bank of Korea Cuts Policy Rate to 3.00%: Press

MNI: BANK OF KOREA CUTS RATE TO 3.00%: PRESS

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: GERMANY NRW NOV CPI -0.3% M/M, +1.9% Y/Y

MNI: BAVARIA NOV CPI -0.2% M/M, +2.6% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

AUD On Top as RBA Act Again

FOREX
  • AUD performs solidly headed through to NY hours following the surprising rate hike from the RBA overnight. The bank raised its cash rate by 25 basis points to 3.85%, stressing that it aimed to return inflation to its 2-3% target in a "reasonable timeframe" and strengthening language on future hikes. RBA Governor Lowe said in the accompanying statement that “further tightening may be needed”. At typing, AUD/USD is narrowing in on the 200-dma at 0.6734 - a break above here would target the mid-April highs of 0.6806.
  • The market response to Eurozone CPI was more muted - the headline topped forecast by 0.1ppts, but core was inline with expectations. As such, there was little movement in implied ECB rate hike pricing for this week's meeting - with ~29bps priced in.
  • CHF is the poorest performer alongside GBP, while AUD and SEK outperform most others. The USD Index is off the lows, sitting slightly higher pre-NY.
  • Focus ahead turns to JOLTS job openings data, final durable goods data for March as well as a speech from RBA's Lowe at 1220BST.
Energy BulletsCommodities
Energy BulletsCommodities

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.