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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.
NZD
- The AUD/NZD marked the fourth straight day of gains, finishing the session up 0.15% at 1.0987.
- The cross is now trading 2.31% higher from recent cycle lows, made on June 6, as the local central banks policies diverge. While earlier in the week a plunge in NZ dairy and Milk prices may hurt the NZD.
- Key levels to watch: Initial support lays at 1.0962 (July 3 lows) a break here would open a move to 1.0900 (20-day EMA) below here 1.0850 (pre cpi/ June 26 lows). While a break above the overnight highs of 1.0993 would see a test of 1.100 (May 13 high) and the yearly highs at 1.1031 (May 7)
- The AU-NZ 2yr swap is 2.5bps higher at -44.5bps. (See Chart. Source BBG)
- Expiries: No strikes today, upcoming strikes include 1.0800 ($600m) 1.0700 ($900m) for July 4th NY cut
- Today, Australia May Trade Balance at 11:30 AEST will be the main focus.
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.
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