MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

PPI a Tenth Softer than Exp; Further NEIG HICP Disinflation to Come?

MNI: EUROZONE MAY PPI -0.2% M/M, -4.2% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

AUDUSD Range Trading, A$ Stronger Versus Europe

AUD

AUDUSD range traded on Monday and is currently around 0.1% higher at 0.6738. It reached a high of 0.6756 during the European session but couldn’t sustain breaks above 0.6750. The USD index rose 0.3% helped by weak European PMI data.

  • AUDUSD has fallen through both the 20- and 50-day EMAs and is in a bearish cycle. Initial support is at 0.6712 but key support is 0.6596, the June 29 low. Initial resistance is 0.6788 with the key bull trigger at 0.6900.
  • Aussie is down 0.5% versus the kiwi at 1.0857 and close to the intraday low. AUDJPY is 0.1% lower at 95.30 but well off the low of 94.88. But AUDEUR rose 0.7% to 0.6089 as PMI data weighed on the euro. AUDGBP is up 0.4% to 0.5255.
  • Equity markets were mixed with the S&P up 0.4% but the Eurostoxx down 0.2%. Oil prices were over 2% higher with WTI finishing at $78.92. It has started the session lower at $78.74. Copper rose 0.8% and iron ore is $113.50-$114/t.
  • Today the RBA’s Connolly and Thompson, Head and Deputy Head of Payments Policy, appear before the Senate Committee on Digital Assets. There is no data with the focus now on Wednesday’s Q2 CPI.
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.