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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.
AUD
AUD/USD overnight implied volatility sits at 20.77% as option markets price in a $0.6704-$0.6865 range today. Today’s docket is highlighted by the Q2 Australian CPI print and the latest FOMC rate decision crosses in the NY session.
- Overnight implied volatility is elevated and sits at its highest level since mid-March when the SVB crisis was escalating.
- Overnight risk reversals are skewed to the downside, however we sit well above levels seen pre-SVB crisis and within the yearly range.
- AUD/USD remains in a bearish cycle. Support comes in at the 50-Day EMA ($0.6719), a break through here opens $0.6651 the low from July 11. On the upside $0.6847 (high from Jul 20) and $0.69 (high from June 16).
Fig 1: AUD/USD Overnight Implied Volatility
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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