MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

Services Drive Downside Surprise in CPI-ATE

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equities Supporting A$, AUDNZD Weak Ahead Of RBNZ Meeting

AUD

Aussie was one of the better performers in the G10 supported by continued equity strength with little direction from data. AUDUSD rose 0.1% to 0.6564 with the high at 0.6581 but has started today down at 0.6558. The USD index was unchanged on Friday.

  • AUDUSD rose 0.4% last week with a high of 0.6595. Highs are being sold and any further sell offs would see the bearish trend resume, confirming the recovery is corrective. Initial support is at 0.6443, February 13 low, and key resistance at 0.6625, January 30 high.
  • AUDNZD traded most of Friday below 1.06 but did make a number of breaks above. Kiwi has outperformed ahead of Wednesday’s RBNZ meeting. AUDNZD is currently at 1.0589. AUDJPY is 0.1% higher at 98.81. AUDEUR up 0.1% to 0.6060 but AUDGBP -0.1% to 0.5171.
  • Equities were generally stronger with the S&P up slightly and the Euro stoxx up 0.4%. Oil prices fell sharply with Brent down 2.5% to $81.58/bbl. LME metal prices fell 0.1% on Friday but rose 0.5% over the week. Iron ore is down to $120/t.
  • There are no data or events in Australia today with January retail sales and CPI the highlights of the week.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

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.