MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FOREX: NZD Testing 20-day EMA Support, , A$ Also Weaker, As HK Equities Fall

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

Risk off is evident in the FX space, as Hong Kong and China related equities pare some of the recent surge. NZD/USD is down around 0.25%, last near 0.6245/50. AUD/USD is off by 0.20%, close to 0.6870. Yen has also pared some earlier losses, leaving yen crosses off recent highs.

  • The USD BBDXY index is up above 1230, getting to fresh highs since the first half of Sep. The HSI in HK is down over 3%, the China Enterprise index is off over 3.5%. For the HSI this follows a nearly 34% gain from Sep 11 lows to yesterday's intra-session high. Some profit taking is not surprising given the scope of the moves.
  • For NZD/USD current levels are close to the 20-day EMA (0.6250), with 0.6200 round figure support eyed next. For AUD/USD lows from Tuesday trade aren't too far off at 0.6856. Earlier trade data showed the August surplus close to forecasts at A$5.64bn. Exports and imports fell 0.2%.
  • USD/JPY hit earlier highs of 147.24, around the time of the Tokyo fix, but we are back the 147.00 level now. A Japanese Government official stated new PM Ishiba didn't make a specific policy request to BoJ Governor Ueda (after yen weakened yesterday when Ishiba stated now was not the time for further rate hikes). This and the pare in HK equities is helping yen at the margins.
  • AUD/JPY got to 101.275 earlier, but is now back near 100.90.
  • US equity futures are modestly in the red, while US yields are a touch higher, but gains are less than 1bps at this stage.
  • The data/event risk calendar is relatively quiet for the rest of the Thursday Asia Pac session. 
276 words

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.

Risk off is evident in the FX space, as Hong Kong and China related equities pare some of the recent surge. NZD/USD is down around 0.25%, last near 0.6245/50. AUD/USD is off by 0.20%, close to 0.6870. Yen has also pared some earlier losses, leaving yen crosses off recent highs.

  • The USD BBDXY index is up above 1230, getting to fresh highs since the first half of Sep. The HSI in HK is down over 3%, the China Enterprise index is off over 3.5%. For the HSI this follows a nearly 34% gain from Sep 11 lows to yesterday's intra-session high. Some profit taking is not surprising given the scope of the moves.
  • For NZD/USD current levels are close to the 20-day EMA (0.6250), with 0.6200 round figure support eyed next. For AUD/USD lows from Tuesday trade aren't too far off at 0.6856. Earlier trade data showed the August surplus close to forecasts at A$5.64bn. Exports and imports fell 0.2%.
  • USD/JPY hit earlier highs of 147.24, around the time of the Tokyo fix, but we are back the 147.00 level now. A Japanese Government official stated new PM Ishiba didn't make a specific policy request to BoJ Governor Ueda (after yen weakened yesterday when Ishiba stated now was not the time for further rate hikes). This and the pare in HK equities is helping yen at the margins.
  • AUD/JPY got to 101.275 earlier, but is now back near 100.90.
  • US equity futures are modestly in the red, while US yields are a touch higher, but gains are less than 1bps at this stage.
  • The data/event risk calendar is relatively quiet for the rest of the Thursday Asia Pac session.