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MNI China Daily Summary: Friday, May 5

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Firmer, Regional Equities Gain

NZD
BulletMarketsForeign Exchange NewsHomepage

NZD/USD prints at $0.6225/30, ~0.2% firmer today.

  • The pair firmed as regional equities were bid, the Hang Seng opened up 1%, however resistance was seen before $0.6240 and the NZD marginally pared gains.
  • There has been little reaction thus far to the Caixin PMI print, Services printed 55.0 vs 54.5 exp and the Composite crossed at 54.2 rising from 51.1 prior. The beat was less sizable than the official PMI figures earlier in the week.
  • AUD/NZD prints at $1.0820/30, little changed today. Bears target a break below the $1.08 handle, an area which has attracted buying interest in recent sessions.
  • Cross asset flows are mixed. Hang Seng is up 1% whilst US Equity futures are lower. US Treasury Yields are a touch softer. BBDXY is ~0.1% softer.
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NZD/USD prints at $0.6225/30, ~0.2% firmer today.

  • The pair firmed as regional equities were bid, the Hang Seng opened up 1%, however resistance was seen before $0.6240 and the NZD marginally pared gains.
  • There has been little reaction thus far to the Caixin PMI print, Services printed 55.0 vs 54.5 exp and the Composite crossed at 54.2 rising from 51.1 prior. The beat was less sizable than the official PMI figures earlier in the week.
  • AUD/NZD prints at $1.0820/30, little changed today. Bears target a break below the $1.08 handle, an area which has attracted buying interest in recent sessions.
  • Cross asset flows are mixed. Hang Seng is up 1% whilst US Equity futures are lower. US Treasury Yields are a touch softer. BBDXY is ~0.1% softer.