MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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 Slips On Recession Fears

NZD

NZD/USD ground lower on Wednesday as recession fears created demand for safe haven currencies, allowing the greenback to pace gains.

  • The Antipodeans outperformed EU FX but lagged all of the other G10 currencies. The dollar index (BBDXY) rose past 1,280 to its best levels in more than two years.
  • The inversion in U.S. 2-/10-Year Tsy curve deepened on Wednesday, fuelling concerns about an economic downturn. Although the VIX index fell and U.S. equity benchmarks eked out some gains come the closing bell, Bloomberg Commodity Index plunged to a five-month low.
  • NZD/USD last deals at $0.6153, up 5 pips on the day. Renewed losses past Jul 5 low of $0.6125 would prompt bears to target May 22, 2020 low of $0.6081 and the psychologically significant barrier at $0.6000. Bulls need gains past Jul 4 high of $0.7252 before setting their sights on $0.6327, which capped gains on Jun 24 & 27.
  • There is little in the way of notable data releases on the local docket during the remainder of this week.
  • In the absence of local data signals today, it is worth watching Australian trade report today.
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.