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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 at $1.0810/20, the pair finished Wednesday's dealing ~0.4% lower and is little changed in early trade today.
- The cross found resistance above the 200-Day EMA ($1.0845) in yesterday's session firming as the Kiwi unwound its early post-CPI gains. AUD/NZD was unable to sustain the move higher; the pair fell ~0.6% from session highs.
- Rate differentials, observed via 2-Year Swaps, ticked wider yesterday and now sit at -108bps.
- Bears first look to sustain a break of $1.08 to target the low from 14 July ($1.0726), this opens year to date lows ($1.0560).
- On the upside bulls target yesterday's high ($1.0885), a break through here opens high from June 29 ($1.0924).
- Australia's June Labor Market Report is due today, the headline unemployment rate is expected to remain steady at 3.6% with a modest gain in jobs. Q2 NAB Business Survey from Australia is also due.
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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