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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
AUD/NZD is tracking lower post the NZ Q3 CPI beat. The sharp spike in NZ yields suggest we may hold this break of the 100-day MA to the downside. That level comes in just above 1.1140, versus current spot just under 1.1130. Recent lows sit just under the 1.1110 level, while the 200-day MA comes in 1.0981, the 50-day is at 1.1220 on the topside.
- NZ 2yr swaps have surged 20bps for the session so far, to fresh cyclical highs around 5.20%. The chart below plots AUD/NZD against the 2yr swap spread.
- RBNZ terminal pricing is now 5.36%, +35bps for the session.
- Still to come is the RBA minutes following the 25bps hike at the start of the month. RBA Deputy Governor Bullock also speaks.
Fig 1: AUD/NZD Versus 2yr AU-NZ Swap Spread
Source: MNI - Market News/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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