Free Trial
AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Kiwi On Track For Weekly Gain

NZD

NZD/USD caught a bid Thursday amid a decline in U.S. Tsy yields as well as firmer crude oil prices. The rally was capped at $0.6417, the rate's best level in ten days, before stabilisation in NY hours.

  • NZD/USD changes hands at $0.6385, a touch higher on the day. From a technical point of view, the initial bullish target is provided by May 5 high of $0.6568. On the flip side, the key near-term support has been defined at/around $0.6232, the 61.8% retracement of the 2020 - 2021 rally.
  • The assessment of Budget 2022 delivered on Thursday dominates local headlines, with much focus on measures to address the living costs crisis. These include an extension to fuel tax reductions, cuts to public transport prices as well a NZ$1bn cash handouts scheme. NZ Herald reported that the "Treasury recommended against the Government's NZ$350 cost of living payment for middle-income household," arguing that it would "make inflation worse in the short term."
  • New Zealand's trade balance and credit card spending are on tap today.
  • Reminder that the RBNZ will announce its OCR decision next Wednesday.
178 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

NZD/USD caught a bid Thursday amid a decline in U.S. Tsy yields as well as firmer crude oil prices. The rally was capped at $0.6417, the rate's best level in ten days, before stabilisation in NY hours.

  • NZD/USD changes hands at $0.6385, a touch higher on the day. From a technical point of view, the initial bullish target is provided by May 5 high of $0.6568. On the flip side, the key near-term support has been defined at/around $0.6232, the 61.8% retracement of the 2020 - 2021 rally.
  • The assessment of Budget 2022 delivered on Thursday dominates local headlines, with much focus on measures to address the living costs crisis. These include an extension to fuel tax reductions, cuts to public transport prices as well a NZ$1bn cash handouts scheme. NZ Herald reported that the "Treasury recommended against the Government's NZ$350 cost of living payment for middle-income household," arguing that it would "make inflation worse in the short term."
  • New Zealand's trade balance and credit card spending are on tap today.
  • Reminder that the RBNZ will announce its OCR decision next Wednesday.