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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 firmed ~1.2% after printing a month to date low on Thursday, the pair now sits around the 20-Day EMA ($1.0727). NZD was pressured on Friday after the drop in 2 Year Inflation expectations.
- Rate differentials, observed via 2 year swap rates, have narrowed to -128bps. Rate differentials were as wide as -160bps in early May.
- Bulls look to clear the 20-day EMA, from here they can target the high from 2 May at $1.0835. A break through here opens the 200-Day EMA ($1.0854).
- On the downside bears target low from 5 April at $1.0588, from here they look to break 2022 lows at $1.0471.
- Data-wise, in Australia the RBA minutes of the May meeting, April Employment Survey and Q1 Wage Price Index will cross. In New Zealand Q1 PPI and Apr Trade Balance crossed.
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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