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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 has firmed on Thursday after New Zealand CPI for Q1 printed below market expectations and also below the RBNZ's forecast. The pair prints at $1.0880/90, its highest level since 3 March.
- Rate differentials, observed via 2-Year Swaps, have narrowed to -137bps today. Early in the month cycle lows at -165bps were printed.
- Technically we sit above the 200-Day EMA ($1.0871), a close above this level will open up $1.0970, 76.4% Fibonacci retracement of the Feb-Apr bear leg, and $1.1088 the 2023 high for bulls.
- Bears look to break the 20-Day EMA ($1.0776) to turn the tide.
Fig1: AU NZ 2 Year Swap v 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.
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