MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

AUD/USD Targeting Break Of 0.6700 Post Data Misses

AUD

AUD/USD is weaker following the headline data misses, slipping to 0.6700. We have stabilized somewhat (last around 0.6705) as this region has proven to be a support point this week. Focus remains on the downside though. A clean break of 0.6700 paves the way for 0.6664 (50% retracement of the Oct-Feb bull cycle), while the Dec 20 low sits at 0.6629.

  • Not surprisingly we are seeing AU yields under pressure. The AU-US 2yr spread is back to -128bps, near early Feb lows and 10bps wider for the session.
  • The AUD/NZD cross continues to correct lower, now back to late Jan levels, last near 1.0860/65.
  • Q4 Q/Q GDP was weaker than expected at 0.5%, (forecast 0.8%), although Q3 was revised up a touch to 0.7% (form 0.6%). Jan CPI was much weaker than expected +7.4% y/y, versus 8.1% forecast (prior was 8.4%).
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.