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Dragged Lower Post AU CPI & Weaker China Miss, AUD/NZD Lower

NZD
  • AU CPI was out earlier, missing estimates and dragging NZD/USD lower. We were last at 0.6125/30, off a modest 0.15%. AUD/NZD is lower though, last near 1.0730, still within recent ranges of 1.0700/1.0800.
  • ANZ sentiment readings out earlier printed Business Confidence at 36.6 vs 33.2 prev, and Activity Outlook 25.6 vs 29.3 prev.
  • The weaker China manufacturing PMI at 49.2, slightly below estimates, has presented an additional headwind
  • Note, RBNZ Gov Orr is next scheduled to deliver a keynote speech at 7.40am, Friday 16th about the changing driving inflation.
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  • AU CPI was out earlier, missing estimates and dragging NZD/USD lower. We were last at 0.6125/30, off a modest 0.15%. AUD/NZD is lower though, last near 1.0730, still within recent ranges of 1.0700/1.0800.
  • ANZ sentiment readings out earlier printed Business Confidence at 36.6 vs 33.2 prev, and Activity Outlook 25.6 vs 29.3 prev.
  • The weaker China manufacturing PMI at 49.2, slightly below estimates, has presented an additional headwind
  • Note, RBNZ Gov Orr is next scheduled to deliver a keynote speech at 7.40am, Friday 16th about the changing driving inflation.