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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 14.945% as option markets price in a $0.6720-$0.6843 range in the aftermath of today’s labour market report.
- Overnight implied volatility is elevated and at it's highest level since early April, however well below the levels seen at the height of the SVB crisis.
- Overnight risk reversals are skewed to the downside, however we sit well above levels seen pre-SVB crisis and within the yearly range.
- Technically the impulsive rally in AUD/USD last week resulted in the break of short term resistance points, and a short term bullish theme persists.
- Resistance comes in at $0.69, high from June 16, and $0.6936 the high from Feb 16. Support is at $0.6754 low from July 19 and $0.6746 the 20-Day EMA.
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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