Free Trial

RBC Recommend Short AUD/NZD as Trade of the Week

FOREX
  • RBC's trade of the week recommends a short AUD/NZD position targeting 1.0650 with a stop at 1.0940.
  • With market pricing for the RBNZ somewhere between a 50bp and 75bp hike, but the case for the RBNZ joining the 75bp trend is strong.
  • Although market pricing for the rates profile is already ahead of the RBNZ view, RBC don’t think the RBNZ would need to go as far as endorsing this profile to be perceived as hawkish.
  • For AUD, they see the currency as vulnerable to an unwind of the improved sentiment in China as the risk of more widespread lockdowns increases

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.