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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
AUD/NZD has added 6 pips and last.......>
AUSSIE-KIWI: AUD/NZD has added 6 pips and last deals at NZ$1.0626. Participants
await the latest RBNZ MonPol decision, due at 0300BST, after the RBA left its
cash rate unchanged yesterday. For our RBNZ preview piece visit
https://emedia.marketnews.com/marketnewsintl/RBNZ_Preview_-_May_2019.pdf.
- The rate dropped into yesterday's Asia open on the back of hawkish trade
rhetoric from U.S. TR Lighthizer & U.S. Tsy Sec Mnuchin, but advanced
subsequently, as firmer iron ore prices aided AUD to a degree.
- The RBA MonPol decision pushed the pair to a fresh intraday high of NZ$1.0643,
as the central bank defied speculation that softer inflation & growth data might
force it to deliver a cut to the cash rate.
- Despite paring some gains later on, AUD/NZD closed 51 pips higher on the day.
- A break above yesterday's high/Apr 25 high of NZ$1.0643/44 would encourage
bulls to take aim at the 200-DMA, which comes in at NZ$1.0661. Meanwhile, the
21-DMA at NZ$1.0615 provides the initial layer of support, with a breach here
opening the psychological NZ$1.0600 level.
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.