MNI: SPAIN NOV MANUF PMI 53.1 (FCST 54.0); OCT 54.5

MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

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.
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.