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A Tight Morning Ahead Of 20-Year Supply


China Repo Rates Fall on Thursday


IRU1 Given


ACGB Purchase Offer Details

KIWI: ANZ note that "the kiwi is now a decent way away from its cycle lows, and
in many ways that is justified as RBNZ rate cuts are priced out and the curve
steepens. While positioning will have exacerbated the move, extreme shorts have
started to be pared back. In fact, kiwi has run into some reasonable resistance
up near 68 US cents suggesting the path higher from here will not be an easy
one. That said, global forces hold the upper hand and much will hinge on risk
appetites. Further improvement can't be ruled out, but there are a number of
things that warrant caution, not least the softer global growth picture,
tightening liquidity, and the fragile political landscape. Together with weaker
export prices and our still wary domestic view, we are happy to retain a bearish
medium-term bias for kiwi."
MNI London Bureau | +44 0203-865-3809 |