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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
The cross printed its highest level since early November at $1.0994, before selling pressure saw AUD/NZD retreat ~1%.
- The $1.10 handle remains the first target for bulls, a break through here opens up $1.1101, the 61.8% retracement of the Sep-Dec fall.
- The 200-Day EMA ($1.0910) has provided support in recent sessions, a sustained break allows bears to target the 20-Day EMA at $1.0883.
- In the swap space there the AU-NZ 2yr spread is now back to -116bps, with a minor improvement in the AUDs favour in recent dealing.
- The RBA meeting on Tuesday provides the next macro risk event for the cross.
Fig 1: Swap Spread v Daily Spot
Source Market News International (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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