MNI: US OCT FINAL MANUF PMI 48.5 (FLASH: 47.8); SEP 47.3

MNI: BLS: NET REVISIONS TO SEPT, AUG PAYROLLS -112K

MNI: UK OCT FINAL MANUF PMI 49.9 (FLASH: 50.3); SEP 51.5

MNI China Daily Summary: Friday, November 1

MNI: PBOC Net Drains CNY275.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1135 Fri; +2.83% Y/Y

MNI: US SEP CONSTRUCT SPENDING +0.1%

MNI: US ISM OCT MANUF PURCHASING MANAGERS INDEX 46.5

EZ/UK Bond Supply Calendar: EU-Bond Auction on Monday

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RBA Statement Weighs on AUD/USD, 200-Day MA (0.6750) May Offer Support

AUD

As expected, the RBA left rates on hold at 3.60%, which was in line with market pricing, although economists were more divided. The AUD/USD is down in response to the outcome. The market appears to have latched onto the RBA wording in the final paragraph around further tightening. The Board indicating some further tightening may well be needed. This language in March was firmer when the Board noted it expected further tightening will be needed.

  • This may see the market question any further hikes from the RBA, although market pricing hasn't been skewed that way in any event.
  • AUD/USD is back to the 0.6760/65 region, which is 0.35% lower versus opening levels. We were generally trending higher in the lead up to the announcement, in the 0.6785/90 region.
  • Recent highs have come in around the 0.6740/50 region, so they could act as support on the downside. This also coincides with the simple 200-day MA.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

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.