-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCORRECTION: AUD Surges On Strong Jobs Data, Leaves Antipodean Cousin Behind
A combination of strong labour market data released out of Australia and a hawkish change to the rate-hike call of an influential RBA watcher bolstered the Australian dollar, which still comfortably outperforms all G10 peers. Buying was triggered by the December jobs report, which showed that the unemployment rate undershot the expected level (4.5%) and fell to a 13-year low of 4.2%. Employment growth was slightly faster than forecast, while the participation rate stayed at 66.1%. The data came with a caveat, as the ABS noted that the survey was taken "was prior to the high number of COVID cases associated with the Omicron variant," but was enough to fuel hawkish RBA bets.
- Before the release of Australian jobs report, Westpac's Bill Evans said that he now expects Australia's central bank to deliver the first cash rate hike this coming August, which will be followed by another hike in October. Evans had earlier forecast the cash rate not being raised until February 2023.
- Trans-Tasman flows pushed AUD/NZD to within touching distance from the NZ$1.0700 mark. BBG trader sources suggested that buy-stops were triggered above resistance from Jan 5 high of NZ$1.0651. The swing in AUD/NZD sapped strength from the broader kiwi dolar and the flightless bird landed at the bottom of the G10 pile.
- Spot USD/CNH ground lower with all eyes on the PBOC. China's central bank cut their 1-Year & 5-Year Loan Prime Rates, which came after reductions to 1-Year MLF & 7-Day Reverse Repo rates delivered earlier this week. Meanwhile, the USD/CNY reference level was set at the lowest point since May 2018, which some interpreted as a sign of the PBOC's sense of comfort with redback appreciation.
- The DXY moved in tandem with U.S. Tsy yields, as both retreated in early trade only to gradually recoup the bulk of their losses. The initial weakness in U.S. Tsy yields dragged USD/JPY lower, but the yen went offered later in the session. Worth noting that it is a Gotobi day in Japan, which may have contributed to eventual JPY weakness.
- U.S. weekly jobless claims, final EZ CPI, ECB Dec MonPol meeting minutes & Norges Bank MonPol decision take focus from here.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.