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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 prints a touch above the $1.09 handle and deals at its highest level since 21 Apr. The pair has firmed ~3.4% since printing a year to date low on 22 May.
- Rate differentials, observed via 2 year swaps, have narrowed with today's RBA meeting in view. We now sit at -118bps having printed as wide as -166bps in late May.
- Technically the pair is consolidating above the 200-Day EMA ($1.0830), dealing in a narrow range in recent sessions.
- Bulls target a break of $1.0931, high from April 20, which opens up $1.1088 the year to date high.
- On the downside bears look to first break the 200-Day EMA, which opens the 20-Day EMA ($1.0773).
- The RBA's latest monetary policy decision is on tap today, the MNI preview of the event is here.
Fig 1: AUD/NZD Daily Spot vs AU NZ 2 Year Swap
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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