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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
AUD/USD sits at $0.7013, unch. on the day....>
AUSSIE: AUD/USD sits at $0.7013, unch. on the day after falling 27 pips Tuesday.
- Initial support noted at the psychological $0.7000 barrier, which capped gains
on Jul 2. If it gives way, bears will be able to target the Jul 12 low of
$0.6971. Bulls need a return above the 100-DMA at $7019, breached on Tuesday,
before challenging $0.7048, which represents Jul 4 & May 7 highs.
- The rate slid on Tuesday as USD gained poise, partially on the back of better
than exp. U.S. retail sales. Meanwhile, broader picture themes kept AUD under
pressure. U.S. Pres Trump said that he could impose more tariffs on China if he
wanted to, while commodity-tied FX faced headwinds from falling oil prices.
- The RBA's July policy meeting minutes were shrugged off, as they merely
reiterated the Bank's focus on labour market and readiness to act if needed.
- Focus turns to the key Aussie labour mkt report, due Thursday. Otherwise
Aussie docket is thin, with second-tier Westpac Leading Index hitting today.
- In local news, the APRA faces a major overhaul after a governmental review was
very critical of its "culture of conformity," preference for closed-doors
solutions and general sluggishness.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.