MNI China Press Digest March 18:Inflows, Consumption, Industry

MNI: PBOC Net Injects CNY235.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1733 Tues; -0.54% Y/Y

MNI WATCH: BCB To Hike 100BP As Signaled, Eyes On May Guidance

MNI BRIEF: China To Release Childcare Subsidies, Boost Income

MNI BRIEF: PBOC Mulls New Tools Targeting Consumption

EZ/UK Bond Supply Calendar: UK, Finland Due Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

MNI: US JAN BUSINESS INVENTORIES +0.3%; SALES -0.8%

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: A$ & NZD Near Important Resistance Levels, USD Lower For The Week

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

The USD BBDXY index sits little changed in the first part of Friday dealing, last near 1292.4. We have seen slight outperformance from NZD and AUD, but aggregate moves are modest at this stage. 

  • The BBDXY index is comfortably down for the week, with EUR and EU related currencies outperforming. Ukraine peace hopes, coupled with no fresh tariffs in the near term, is weighing on USD sentiment.
  • For today, NZD/USD is up a little over 0.20%, last near 0.5690. This brings us back within striking distance of the 50-day EMA (near 0.5700), which also coincides with early Feb highs.
  • Earlier we had a surge in the NZ PMI back above 50.0, while Jan NZ food prices were also very strong. This comes ahead of next week's RBNZ meeting. A 50bps cut is expected. Today's data outcomes may have more influence on the RBNZ outlook beyond next week's meeting.
  • NZ-US 2yr swap spreads also remain within recent ranges, last near -78bps, so we may need more upside on this front to sustain higher NZD levels.
  • AUD/USD has edged up, but at 0.6320 is still short of key resistance at 0.6331 (the Jan 24 high). Iron ore prices are higher, amid supply fears due to weather conditions in Western Australia
  • We have seen a continued rally in Hong Kong equities, while China markets are also higher today. Tech optimism continues to fuel gains.
  • US equity futures are up a touch, while US yields are little changed.
  • USD/JPY is near 152.80, unchanged for the session, but yen has been a notable underperformer the past week, particularly against EU currencies.
  • Looking ahead, we have EU GDP, while in the USD retail sales is likely to be the main focus point. Will also hear from the Fed's Logan. 
292 words

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.

The USD BBDXY index sits little changed in the first part of Friday dealing, last near 1292.4. We have seen slight outperformance from NZD and AUD, but aggregate moves are modest at this stage. 

  • The BBDXY index is comfortably down for the week, with EUR and EU related currencies outperforming. Ukraine peace hopes, coupled with no fresh tariffs in the near term, is weighing on USD sentiment.
  • For today, NZD/USD is up a little over 0.20%, last near 0.5690. This brings us back within striking distance of the 50-day EMA (near 0.5700), which also coincides with early Feb highs.
  • Earlier we had a surge in the NZ PMI back above 50.0, while Jan NZ food prices were also very strong. This comes ahead of next week's RBNZ meeting. A 50bps cut is expected. Today's data outcomes may have more influence on the RBNZ outlook beyond next week's meeting.
  • NZ-US 2yr swap spreads also remain within recent ranges, last near -78bps, so we may need more upside on this front to sustain higher NZD levels.
  • AUD/USD has edged up, but at 0.6320 is still short of key resistance at 0.6331 (the Jan 24 high). Iron ore prices are higher, amid supply fears due to weather conditions in Western Australia
  • We have seen a continued rally in Hong Kong equities, while China markets are also higher today. Tech optimism continues to fuel gains.
  • US equity futures are up a touch, while US yields are little changed.
  • USD/JPY is near 152.80, unchanged for the session, but yen has been a notable underperformer the past week, particularly against EU currencies.
  • Looking ahead, we have EU GDP, while in the USD retail sales is likely to be the main focus point. Will also hear from the Fed's Logan.