BOJ SEES BIGGER UPSIDE RISKS TO PRICES IN FY2024, 2025

BOJ SEES FY24 REAL GDP +0.6% VS. APR +0.8%

BOJ MEDIAN FY24 CORE CPI +2.5% VS. APR +2.8%

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

Japan Jun Retail Sales +3.7% Y/Y

Japan Jun Ind. Output -3.6% M/M; First Fall In 2 Mths

MNI BRIEF: Aussie CPI In Line With Forecasts

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

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

AUD/USD in Midst of Longest Streak of Higher Lows Since 2017

AUD
  • Antipodean currencies gaining off the back of the modest recovery for equities through the European open, helping tilt AUD, NZD to outperform all others in G10.
  • The AUD/USD rally off the May31 low has seen the pair post higher lows for 10 consecutive sessions, the longest such streak since end-2017, which extended to 16 consecutive sessions and spanned a ~5% rally. Price has recently cleared 0.6733, 76.4% of the downleg in May, reinforcing current conditions and this signals scope for a test of 0.6818, the May 10 high and a key resistance.
  • AUD outperformance continues to stem from more solid industrial commodities prices (China iron ore prices are up 20% off the late May low), compounding the impact of the more hawkish RBA decision.
  • Potential for a stimulus driven Chinese recovery continues to build, with more easing via the PBoC's MLF rate expected to follow similar steps in other lending facility rates yesterday (See MNI PBOC Watch here: https://marketnews.com/mni-pboc-watch-mlf-rate-cut... )
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.