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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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Free AccessAUD Outperforming After RBA Hikes 25bps & Flags More Hikes To Come
AUD is the strongest performer in the G-10 space at the margins, with the greenback moderately weaker as its gives back some post NFP gains.
- AUD/USD prints at $0.6925/30 ~0.7% firmer, the pair was up as much as 1% in the aftermath of the RBA decision. The central bank raised the cash rate 25bps and noted in its statement that rates will need to rise further and more than once. Earlier the Dec trade balance had printed a touch below expectations.
- USD/JPY is ~0.3% softer, last printing ¥132.25/35. The 20-day EMA at 130.34 is the next downside target. Dec Labour Cash Earning rose 4.8% vs 2.5% exp, Dec Real Cash Earning were also on the wires printing at 0.1% vs -1.5% exp. Jan Household spending fell 1.3% more than the exp -0.4%. Dec, P Coincident Index printed in line with expectations
- NZD is also firmer, last printing $0.6320/25. The pair met resistance above its 50-day EMA, paring gains to sit at current levels. Jan ANZ Commodity Prices fell 1%, the prior read was -0.1%.
- EUR/USD and GBP/USD are both marginally firmer, with the moderate weakness in the USD boosting the pairs.
- Cross-asset flows see e-minis up ~0.1%, although off session highs, and BBDXY down ~0.1%.
- US Trade Balance, which headlines an otherwise thin data slate. Fed Chair Powell speaks today for the first time since last week's Fed meeting.
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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.