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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.
AUDNZD
AUD/NZD sits at its lowest level since 5 June, the pair has fallen below its 20-Day EMA and last prints at $1.0860/70. We now sit ~1.8% off June highs.
- Rate differentials, observed via 2-Year swaps, have widened a touch in recent dealing; we now sit at -94bps having been as narrow as -80bps last week.
- Bear immediate focus is on the 200-Day EMA ($1.0850), a break through here opens the low from 25 May at $1.0704.
- Bulls first look to break the 20-Day EMA ($1.0920).
- Australia's May CPI print headlines an otherwise thin Antipodean data calendar this week. A 6.1% Y/Y rise is expected, ticking lower from 6.8% in April.
Fig 1: AUD/NZD Daily Spot, EMAs
Source: MNI/Bloomberg
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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