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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 is holding below the $1.08 handle with narrow ranges persisting in recent dealing, the pair sits ~1.5% off late July highs and last prints at $1.0775/80.
- Rate differentials, observed via 2 Year Swaps, sit at -135bps. We had been as narrow as -80bps in mid June.
- Bears look to break the low from 17 July ($1.0725), this opens years to date lows ($1.0560) and December 2022 lows ($1.0471).
- The immediate focus for bulls is the 20-Day EMA ($1.0817), a break of the measure opens high from 25 July ($1.0919) and high from June 19 ($1.1056).
- Looking ahead the data calendar is light in Australia and New Zealand next week, Q3 2-Year Inflation expectations from New Zealand provides the highlight.
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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