Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
The greenback declined on Wednesday after a four day rally, the drop allowed AUD/USD to rise. The pair briefly looked below 0.7300 in the European morning, bouncing off 0.7290 and rising to highs of 0.7363. Last trading down 5 pips on the session at 0.7355.
- From a technical perspective AUD/USD remains weak and is trading close to recent lows. A bearish theme dominates following the recent sell-off that prompted new multi-month lows and a breach of the channel base at 0.7360. The channel is drawn from the Feb 25 high and the move lower marks an important S/T technical break. This opens 0.7235 next, the 1.236 projection of the Feb 25 - Apr 1 - May 10 price swing. On the upside, initial resistance is seen at 0.7429, Jul 19 high.
- Focus during the session will likely remain on the local COVID-19 situation with speculation that the lockdown in Greater Sydney will be extended beyond the scheduled July 30 end date. PM Morrison earlier acknowledged "significant challenges" in the early stages of the nation's vaccination programme.
- Thursday's local docket is headlined by preliminary trade balance data, weekly payrolls readings from the ABS and NAB business conditions.