Free Trial

Firmer; Business Confidence Rises, Inflation Pressures Remain

NZD

NZD/USD prints at $0.6500/05, ~0.2% firmer in today's trading.

  • The pair was bid after the Jan ANZ Business Survey saw Business Confidence rise to -52.0 from -70.2 prior, and the Activity Outlook rose to -15.8 from -25.6 prior. Inflation pressure remains, pricing intentions rose 3 points and cost expectation rose 7 points.
  • NZD/USD is dealing just off session highs, with bulls targeting a break of $0.6530 (Jan 18 high).
  • AUD/NZD is little changed today, the cross has held comfortably above the 200-day EMA and bulls look to target $1.10 handle.
  • Cross-asset wise the greenback is pressured, as USD/JPY is offered, BBDXY is down ~0.1%. US Equity futures are softer, although they are recovering from session lows.
  • With an empty local and regional calendar for the remainder of the day wider swings in risk sentiment will be the main driver of NZD.

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.