© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
BUNDS

German 2yr Yield lowest since 9th June

OIL PRODUCTS

Cracks Fall as EIA Show Lower Implied Demand

SOUTH AFRICA

Naidoo Does Not See SARB as Behind the Curve

CZECHIA

M2 Money Supply Rises By 6.2% in May

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Aussie Awaits RBA Decision Next Week

AUD
BulletMarketsForeign Exchange

AUD/USD resumed losses on Thursday, as broader demand for the greenback drove the pair lower. Although the rate rallied into the London morning, its gains were capped at $0.7162, and it pulled back into the WMR fix.

  • The rate last deals at $0.7100, little changed on the day. Bears now look for a breach of Feb 4 low of $0.7052, which would clear the way to key support from Jan 28 low of $0.6968. Bulls need a jump above Apr 25 high of $0.7261 before setting their sights on the 50-DMA at $0.7322.
  • As a reminder, the RBA announce its next monetary policy decision on Tuesday. Consensus looks for a 25bp hike to the cash rate, an outcome fully priced by the swaps market. Implied probability of a controversial pre-election rate hike was boosted by this week's CPI data, which provided evidence of runaway inflation that calls for urgent policy response.
  • On the data front, focus moves to CoreLogic House Price Index, Melbourne Institute Inflation & ANZ Job Ads (Monday), retail sales (Wednesday) as well as trade balance & building approvals (Thursday).
179 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

AUD/USD resumed losses on Thursday, as broader demand for the greenback drove the pair lower. Although the rate rallied into the London morning, its gains were capped at $0.7162, and it pulled back into the WMR fix.

  • The rate last deals at $0.7100, little changed on the day. Bears now look for a breach of Feb 4 low of $0.7052, which would clear the way to key support from Jan 28 low of $0.6968. Bulls need a jump above Apr 25 high of $0.7261 before setting their sights on the 50-DMA at $0.7322.
  • As a reminder, the RBA announce its next monetary policy decision on Tuesday. Consensus looks for a 25bp hike to the cash rate, an outcome fully priced by the swaps market. Implied probability of a controversial pre-election rate hike was boosted by this week's CPI data, which provided evidence of runaway inflation that calls for urgent policy response.
  • On the data front, focus moves to CoreLogic House Price Index, Melbourne Institute Inflation & ANZ Job Ads (Monday), retail sales (Wednesday) as well as trade balance & building approvals (Thursday).