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Large 10Y Call Sale


Powell Says No Decision Made on Taper

AUSSIE-KIWI: AUD/NZD has stuck to a sub-30 pip range in early dealing this week,
last NZ$1.0557, virtually unch., after Friday's move lower, which resulted in a
close below the 50-DMA. As a reminder, broader market sentiment fell on the yuan
crosses on Friday, with a MNI sources piece noting that the People's Bank of
China does not want a sharp appreciation in the yuan. Markets await clarity re:
the Chinese December trade figures, expected over the next couple of hours.
- Bears now switch focus to the Jan 10/11/7 lows at NZ$1.0546/44/42, ahead of
the 21-DMA at NZ$1.0521. Bulls need to retake the 50-DMA at NZ$1.0580 & the
psychological NZ$1.0600.
MNI London Bureau | +44 0203-865-3809 |