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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
Rate differentials, observed via 2-Year Swaps, continue to narrow. We now sit at ~-80bps having been as wide as -150bps in mid October.
- AUD/NZD is holding above $1.09, the pair found resistance ahead of $1.0950 yesterday and ticked lower through the session.
- Technically the 20-Day EMA ($1.0843) has crossed the 200-Day EMA ($1.0830) signalling scope for more potential upside. Bulls target a break of the high from 2 Nov ($1.0945). This opens the $1.10 handle, YTD highs ($1.1088) and high from 18 Oct 22 ($1.1207).
- On the downside bears break below the 20-Day EMA and the 200-Day EMA. This opens the $1.06 handle, the low from 22 May ($1.0560) and the 2022 low ($1.0471).
Fig 1: AUD/NZD Daily Spot vs AU NZ 2-Year Swap
Source: MNI/BBG
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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