Trial now

Blue put fly


EGBs-GILTS: Gilts, BTPs Underperforming Early


Quick MNI technical

AUSSIE: AUD/USD has struggled in early dealing this week, last 5 or so pips
softer at $0.7720.
- The rate has had limited/no notable reaction to the soft Chinese PMI surveys
released over the weekend, although it is worth noting that the official
non-manufacturing beat exp.
- AUD/USD failed to hold above the 50-DMA with the subsequent reversal extending
to $0.7202 on Friday. Bears now target a break of the $0.7200 level, where the
21-DMA currently resides. Through here brings the YTD low at ($0.7085) back into
play. Bulls need a close above the 50-DMA ($0.7289) to improve the short-term
outlook and extend the recovery.
- Participants will focus on the rhetoric employed in tomorrow's RBA MonPol
decision, with all of those surveyed expecting no change in the Bank's cash
rate, ahead of AU retail sales & trade data, as well as an address from RBA's
Heath later this week.
MNI London Bureau | +44 0203-865-3809 |