Free Trial

AUD/NZD last seen at NZ$1.0478, edges...>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD last seen at NZ$1.0478, edges lower at typing. Regional
data and speeches has done little to move the needle, as all eyes are on the
RBNZ, due to deliver their monetary policy decision at the top of the hour. 
- New Zealand's credit card data was mixed; Australia's Westpac Consumer
Confidence Index improved, but remained sub-100. Both RBA's Heath & NZ FinMin
Robertson highlighted the coronavirus outbreak as a downside economic risk. NZ
PM Ardern will address lawmakers later today.
- Bulls keep an eye on yesterday's peak at NZ$1.0506, the best level in two and
a half months. A break here would clear the way to the 38.2% retracement of the
Nov 7 - Jan 27 slide at NZ$1.0521. Bears look for a fall under the 50-DMA at
NZ$1.0406 to gain some impetus. Worth noting that the 100-DMA has crossed below
the 200-DMA.

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.