Free Trial

Kiwi Holding Early Gains

FOREX

The kiwi has held the majority of its early gains on Monday, elsewhere in G-10 the greenback has trimmed Fridays gains. US Tsy Yields have unwound some of Friday's rally, and US Equity futures are firmer. Oil is a touch lower.

  • NZD/USD now sits at $0.5905/10 ~0.4%, above Friday's closing levels as participants digest the impending change of government in New Zealand. The pair opened dealing up ~0.5% extending gains to print a high for $0.5926 amid thin liquidity this morning before paring gains.
  • AUD/USD has firmed about the $0.63 handle this morning, the pair has been supported ahead of $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance in the pair comes in at $0.6445, high from Oct 11.
  • Yen is little changed this morning, USD/JPY has observed narrow ranges with little follow through on moves. Technically the pair remains in an uptrend, resistance comes in at ¥15016, high from Oct 3 and bull trigger.
  • Elsewhere in G-10 the Scandies are firmer however liquidity is generally poor in Asia.
  • The latest 1-Year MLF from China is due this morning, the rate is expected to be held steady at 2.50%.

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.