Free Trial

*Correct* (Changed label to Kiwi) -............>

KIWI
KIWI: *Correct* (Changed label to Kiwi)
- NZD/USD's recovery efforts remain shallow as the cross tends to $0.6500 which
is reported to hold option-related support that held firm Tuesday, as the rate
registered a cycle low of $0.6501. Pair last deals at ~0.6515, with a a broadly
stronger USD (ex. JPY) & softer commodity currency complex hindering the kiwi
overnight.
- A break here is likely to accelerate the move to $0.6462 (Feb 02 2016 low),
ahead of the 2016 lows ($0.6348).
- The NZ docket is somewhat limited for the remainder of the week so the pair is
likely to trade off of global risk perceptions & the direction of the AUD/NZD
cross.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.