CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Kiwi Pressured In Asia

FOREX

Kiwi is pressured in Asia today, NZD/USD is down ~0.6%. 2 Year inflation expectations fell to 2.79% in Q2 from 3.3% in Q1. 1-Year Inflation Expectations sit at 4.28% in Q2 vs 5.11% in Q1. Earlier in the session April BusinessNZ Manufacturing PMI which printed at 49.1 ticking higher from 48.1 prior.

  • NZD/USD sits at $0.6260/65. The pair has found support ahead of the 20-Day EMA and sits at its lowest level since 4 May. A break through the 20-Day EMA opens the low from May 1 at $0.6161.
  • AUD is marginally pressured as weakness in the kiwi spills over. AUD/USD prints at $0.6690/95, down ~0.2%. Resistance comes in at $0.6818 high from May 10 and support is at $0.6689 yesterday's low.
  • USD/JPY has dealt in a narrow ~30 pip range in Asia with little follow through on moves. Support is at ¥133.50 low from May 4 and resistance is at ¥135.47 high from May 10.
  • Elsewhere in G-10 ranges have been narrow with little follow through on moves. CHF is marginally outperforming however liquidity is generally poor for the Franc in Asia.
  • Cross asset wise; e-minis are 0.1% firmer, US Treasury Yields are ~2bps lower across the curve. BBDXY is little changed from opening levels.
  • In Europe we have preliminary print of Q1 UK GDP, further out UofMich Consumer Sentiment crosses.
Energy BulletsCommodities
Energy BulletsCommodities

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.