MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI China Daily Summary: Wednesday, Dec 4

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Credit Agricole Warn Of Spillover Risk From Australia-NZ Travel Bubble

NZD
  • In a note to clients, Credit Agricole warn of the risks to the New Zealand economy should the Australia-New Zealand travel bubble be suspended across the New Zealand ski season.
  • They write that the majority of NZ-bound tourists hail from Australia's New South Wales, and the recent suspension of the travel bubble with the state (due to a Delta outbreak in Sydney) could stretch to cover the entirety of Australia.
  • With as much as 20% of the New Zealand economy geared toward tourism, GDP and activity could suffer a blow should Australia's quarantine-free travel with NZ be revoked.
  • As such, NZD could be risk. The NZD/USD RSI has recently recovered from oversold levels, leaving NZD bears with room to reload on shorts should more negative newsflow cross. $0.6923 marks first key support (the 2021 low) and a break below here exposes a deeper decline toward 0.6703, the 38.2% retracement for the 2020-2021 rally.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.