MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI BRIEF: Caixin July Manufacturing PMI Falls Below 50

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

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

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

Firms After US CPI As US Treasury Yields Fall

NZD

NZD/USD prints at $0.6360/65, the pair rose ~0.5% on Wednesday.

  • Kiwi printed its highest level since mid-February as US CPI came in as expected with the headline number printing below 5% for the first time in 2 years. US Treasury Yields fell in the aftermath of the print weighing on the USD.
  • Resistance was seen above $0.6380 and gains were pared before a rally into the close as risk appetite improved on hopes of a breakthrough in the US debt ceiling talks.
  • Bulls now target a break above high from 14 Feb April ($0.6390), which opens year to date highs at $0.6538. Bears focus on the 200-Day EMA ($0.6249).
  • AUD/NZD sits at the bottom of the recent range, bears look to target year to date lows at $1.0588.
  • Cross asset wise; 2 Year US Treasury Yields fell 11 bps. BBDXY fell ~0.3% and the S&P500 rose ~0.4%. WTI fell 1.2% as the market continued to focus on weak demand after the latest EIA inventory data.
  • Finance Minister Robertson noted that inflation appears to have peaked and that the government is committed to reducing spending to cool inflation.
  • On the wires today we have Apr Food Prices, there is no estimate. Earlier in the session April Home Sales fell 15.3% Y/Y, the prior read was -15.0%.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.