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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.
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Free AccessNZD/USD Eyeing 2022 Lows
NZD followed the broader USD trajectory and weakened post the Asia close. We dipped sub 0.6250 late in NY but currently sit slightly firmer at 0.6270.
- NZD has seen only modest outperformance against higher beta plays since the start of the week. NZD/USD is down 1.60%, versus AUD's 1.75% dip and NOK, off more than 2%.
- For NZD/USD, lows from mid-May just below 0.6220 are now in play. On the topside, we would expect to see some resistance around the 0.6350 region if seen.
- Locally, NZ food prices rose 0.7% in May, up from the 0.1% pace in April. In YoY terms we are back up to 6.8%, which is not too far asway from highs earlier in the year (7.6%).
- The RBNZ also stated that it received support for its liquidity policy review. The review launched in February 2022 aims to strengthen NZ's financial stability by lowering the likelihood of liquidity problems affecting the deposit takers that the RBNZ regulates.
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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.