MNI RIKSBANK WATCH: Riksbank Set For Third 25bp Cut This Cycle

MNI China Daily Summary: Monday, September 23

MNI: FRANCE SEP FLASH MANUF PMI 44.0 (FCST 44.2); AUG 43.9

MNI NBH WATCH: NBH To Cut By Quarter-Point, Stay Cautious

MNI BRIEF: Law Requires Budget Unfreeze With Higher Revenues

MNI BRIEF: China Consumption Policy Support Working - NDRC

RBA Data Watch

MNI: US SEP FLASH MANUFACTURING PMI 47.0 (FCST 48.6); AUG 47.9

MNI: UK SEP CBI INDUSTRIAL TRENDS TOTAL ORDERS -35

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

AUDNZD: AUD/NZD Little Changed, Testing 50 & 100-day EMA Resistance

AUDNZD
APACAustraliaNew ZealandBulletGlobalForeign Exchange BulletsRegionMarkets
  • The AUD/NZD closed 0.08% lower at 1.0914 on Friday, the currency traded sideway heading into the end of the week and stuck between the 50 & 100-day EMA to the upside, and 20 & 200-day EMA to the down side
  • Focus will turn to RBA meeting tomorrow, where they are expected to keep rates on hold at 4.35%. Today we have Judo Bank PMI data, although this is not expected to move prices.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • RBA dated OIS pricing has cooled following the strong employment data on Thursday, with 17bps of cuts priced into year-end or about a 50% chance of a cut. The first cut is still expected in February with 36bps currently priced and 4 cuts into July next year.
  • The AU-NZ 2yr swap spread is little changed on Friday at 5.5bps, holding near the highs since mid-August.
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have Judo Bank PMI at 9:00am AEST
188 words

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.
  • The AUD/NZD closed 0.08% lower at 1.0914 on Friday, the currency traded sideway heading into the end of the week and stuck between the 50 & 100-day EMA to the upside, and 20 & 200-day EMA to the down side
  • Focus will turn to RBA meeting tomorrow, where they are expected to keep rates on hold at 4.35%. Today we have Judo Bank PMI data, although this is not expected to move prices.
  • Initial resistance is now seen at 1.0945 (19 Sept High) a break here would open a move back to 1.1000. To the downside support is the 20 & 200-day EMAs at 1.0885/95 area, below here 1.0800 (Sep 6 lows)
  • RBA dated OIS pricing has cooled following the strong employment data on Thursday, with 17bps of cuts priced into year-end or about a 50% chance of a cut. The first cut is still expected in February with 36bps currently priced and 4 cuts into July next year.
  • The AU-NZ 2yr swap spread is little changed on Friday at 5.5bps, holding near the highs since mid-August.
  • Expiries: 1.0975 ($255.12m), 1.085 ($258.06m) for Sept 27
  • Today, we have Judo Bank PMI at 9:00am AEST