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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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Breaks 100-day EMA, PMI & Food Prices On Tap Today
NZD/USD prints $0.6030, little changed from late NY levels, having printed fresh November highs and the strongest levels for the pair since early September.
- The pair was under pressure in the Asian session as negative price action in regional equities spilled over into risk sentiment. Kiwi found support at $0.5850, before a trough to peak rally of ~3.4% breaking through the 100-day EMA as US CPI y/y came in at its lowest since January and the core measure slowed more than anticipated.
- US Yields fell, with the 2YY down 25 bps. OIS markets are now pricing in almost nil chance of a 75 bps hike at the next Fed meeting, with 50 bps now expected. The S&P500 gained ~5.5%, the DXY fell ~2.6%.
- Bulls will now look to target the September high at $0.6161 then the 200-day EMA at $0.6240. Bears will look to the 100-day EMA at $0.5865 to re-establish the downtrend.
- Coming onto the wires shortly we have Manufacturing PMI (last 52.0) and Food Prices (last +0.4%) for October.
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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.