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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 Trades Near YtD Highs
AUD/USD slid into Thursday's WMR fix after Victoria declared a record number of new Covid-19 cases, while USD showed some broader strength. A poor showing from oil and gold added some pressure to AUD. The rate recoiled in U.S. hours, as the greenback got hammered by the worst U.S. GDP readings in several decades and President Trump's tweet calling for a delay in elections (later downplayed by top Congresspeople from both sides of the aisle). The greenback's retreat was enough to allow AUD/USD to finish above neutral levels for the fifth consecutive day.
- Australian Treasurer Frydenberg announced that the gov't will extend the permission for companies to hold virtual AGMs to Mar 21.
- AUD/USD trades flat at $0.7194 as we type, with bulls looking to take out Apr 18/17, 2019 highs at $0.7199/0.7206 before targeting 1.764 projection of the Mar 19 - 31 rally from Apr 3 low at $0.7222. Bears look for a dip through Jul 24 low of $0.7064, a key near-term support.
- Australia reports PPI & private sector credit today. Next week, focus moves to AiG & CBA (f) M'fing PMIs and ANZ job ads (Monday), trade balance, retail sales and RBA MonPol decision (Tuesday) , as well as RBA SoMP and comments from RBA Asst Gov Ellis (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.