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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 16.7450% as option markets price in a $0.6654-$0.6780 range today. Today’s docket is highlighted by the latest monetary policy decision from the RBA.
- 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.
- Resistance comes in at the 20-Day EMA ($0.6736), the high from 27 July ($0.6821) and the high from 20 July ($0.6847). Support is at $0.6619, low from Jul 7, and $0.6596 the low from June 29.
- There are two notable expiries today; $0.6620 ($619.9mn) and $0.6781 ($305.3mn)
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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