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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 pushing back above 1.1340, around +0.25% since the open. Overnight the pair couldn't breach the 1.1350 level.
- Whilst relative yield differentials/relative data momentum continues to point to downside risks for the cross, with the RBA/RBNZ meetings out of the way the focus may be shifting back to broader risk appetite.
- The chart below updates one from earlier in the week, AUD/NZD against global equities (which is inverted on the chart). NZD continues to display a stronger beta, compared to AUD, to global equity sentiment.
- We are close to the mid-point of the range for the past week though, roughly 1.1240/1.1440. So, these factors may be broadly offsetting each other at this stage.
Fig 1: AUD/NZD Versus Global Equities (Inverted)
Source: MNI - Market News/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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