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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.
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Free AccessAUD/USD last trades flattish at $0.6885......>
AUSSIE: AUD/USD last trades flattish at $0.6885 after closing 21 pips lower
yesterday, as the Aussie failed to lick its post-RBA wounds through the day,
even as broader risk appetite revived.
- The pair posted a ~20 pip leg higher in early Asia-Pac trade yesterday,
peaking just shy of $0.6930, in reaction to APRA's proposal to loosen mortgage
lending standards. Nonetheless, AUD/USD tumbled later on as the latest RBA
MonPol meeting minutes & comments from RBA Gov Lowe indicated that the RBA has
adopted an easing bias.
- Bears look for a downside breach of $0.6866/65, where the rate bottomed on May
21 & 17, the worst levels since the Jan 3 flash crash. This would allow them to
target the $0.6840-25 zone, where the rate registered a series of lows in Jan
2016. Bulls need to recover $0.6900 before attempting a move at the downtrend
resistance, which kicks in at $0.6929 today.
- Points of note in Australia today include construction data and skilled
vacancies, with CBA PMIs due to follow tomorrow.
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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.