Free Trial
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 continues to consolidate below $1.08 after falling below the handle last week. On Friday the cross printed its lowest level since 25 May before paring losses.
- The pair last prints at $1.0775/85 and is a touch firmer in early dealing on Monday.
- Rate differentials, observed via 2-Year swaps, sit at -106bps; we were as narrow as ~-80bps in mid-June.
- On the downside bears now target the low from 26 May ($1.0708), a break through here opens low from 24 May ($1.0568).
- Bulls first look to break the 200-Day EMA ($1.0850), this opens the high from May 29 $1.0924.
- The highlight of this week's docket is the latest monetary policy decision from the RBNZ, the bank is expected to hold the OCR steady 5.50%.
Fig 1: AU NZ 2 Year Swap vs AUD/NZD Daily Spot
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok