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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 is dealing above the $1.10 handle this morning, last printing $1.1010/20.
- The cross rose ~0.9% in yesterday's session as the RBA raised the cash rate 25bps and signaled that there were further hikes to come.
- This puts the cross at its highest level since 11 Nov 2022. Bulls target $1.1101, the 61.8% retracement of the Sep-Dec fall. Bears first look to break the 200-day EMA at 1.0912.
- The AU-NZ 2 year swap spread continues to improve in the AUDs favour, now dealing at -103bps as it recovers from cycle lows seen in December at -160bps. The chart below overlays this chart against the AUD/NZD cross.
Fig 1: AU-NZ 2 Year Swap vs AUD/NZD Daily Spot
Source: Market News International (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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