MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Equities Weakness Further Weighs On NZD

FOREX
  • The late pullback for front-end US yields this week has weighed on the greenback overall, with the USD index set to close around 0.5% lower on the week. However, mixed performance across G10 FX and the ongoing geopolitical uncertainty have contained any downside momentum for the index.
  • Weakness for equities on Friday was unable to promote any significant haven demand in currency markets, with most major pairs holding narrow ranges ahead of the weekend close. However, the moves have further weighed on the New Zealand dollar, which has declined 0.35%.
  • NZDUSD broke to fresh yearly lows this week below 0.5860 with softer than expected CPI being the catalyst. The pair continues to consolidate this weakness as we approach the weekend close.
  • Both EURUSD and USDJPY traded in tight 30-40 pip ranges on Friday, with the latter once again failing to pierce the 150.00 mark as market participants remain wary of further verbal intervention from the MOF, limiting the risk/reward for bulls, despite the attractive carry profile.
  • More notable on Friday was the strength for the Mexican peso, which recovered 0.7%, despite the risk off sentiment across major equity benchmarks.
  • Eurozone flash PMIs will kick things off next week on Tuesday before Australian CPI on Wednesday. On the central bank slate, the BOC and ECB decisions are highlights amid a number of EM central bank decisions.
Energy BulletsCommodities
Energy BulletsCommodities

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.