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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 ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
AUD/USD Trades Near YtD High
AUD/USD pushed higher Wednesday, with USD gyrations ahead of the FOMC
decision eyed. The rate extended gains to a fresh YtD high after the Fed
held rates near zero and left the pace of QE unch., with Fed Chair Powell
warning that the path to economic recovery may be long and uncertain.
AUD/USD ticked off best levels into the close, but remained buoyant as the
greenback underperformed all of its G10 peers.
- BBG ran an article this morning, noting that the Australian gov't is
lowballing the price estimate of iron ore, one of the nation's key exports.
Last week's economic & fiscal update was based on the estimate of $55/ton,
even as mkt price is almost double that. - AUD/USD trades flat at $0.7187 at typing. A break above Apr 18, 2019 high
of $0.7199 would expose Apr 17, 2019 high, located 7 pips further up.
Bears keep an eye on Jul 24 low of $0.7064. - Australian building approvals & terms of trade headline the local docket
today, with private sector credit & PPI coming up on Friday.
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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.