MNI BRIEF: China February CPI Rises To 1-Year High

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

RPT-MNI INTERVIEW: BOC Has Case For No Cut This Year: McNeil

MNI China Daily Summary: Friday, March 8

MNI: PBOC Conducts CNY10 Bln Via OMO Fri; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0978 Fri; -3.17% Y/Y

CHINA FEB FOOD PRICES -0.9% Y/Y VS -5.9% Y/Y JAN

CHINA FEB CPI 0.7% Y/Y VS MEDIAN 0.3%; JAN -0.8% Y/Y: NBS

Bond Supply Calendar: ESM Syndication "Upcoming"; BoE APF Monday

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Near 2021 Lows

AUD

The greenback continued its move higher on Friday which put AUD/USD under further pressure, the pair dropping to lows not seen since December 2020. The pair hit loves of .07476 into the close on Friday, but has seen a bounce so far on Monday, last up 23 pips at 0.7502.

  • On the trade front Australia has filed a complaint to the WTO over China's tariff's on Australian wine as tensions between the two linger. Australian Foreign Minister Payne said "What lodging the dispute enables us to do is begin dispute consultation settlements, which actually is a bilateral discussion with China about the issues".
  • From a technical perspective AUD/USD remains under pressure registering fresh lows again Friday. The pair has traded below key support at 0.7532 Apr 1 low and price has also breached the 200-dma. The move lower confirms a resumption of the reversal that occurred Feb 25 and signals scope for a deeper pullback towards 0.7462, the Dec 21, 2020 low. On the upside, initial resistance is at 0.7561, Friday's intraday high.
  • The highlight on the economic docket today is preliminary May retail sales due at 0230BST/1130AEST.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

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.