© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: PBOC Net Injects CNY35 Bln Via OMOs Tuesday

CHINA PBOC INJECTS CNY37 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0818 TUES VS 7.0575

Australia April Total Dwelling Approved -8.1%

MNI: AUSTRALIA APR BUILDING APPROVALS -8.1% M/M, -24.1% Y/Y

MNI: AUSTRALIA APR DWELLING APPROVALS -8.1% M/M

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

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
Trending Top 5
Market News Topics

Lagging Better Global Equity Market Sentiment

NZD
BulletMarketsForeign Exchange NewsHomepage

NZD/USD has lost a little more ground as the morning session has progressed. The pair was last at 0.6210/15, around -0.20% below NY closing levels. This is line with the rest of G10 (ex JPY), which is mostly tracking softer versus the USD, although NZD and NOK are modestly underperforming. In terms of downside levels, lows near 0.6180 were supported on Monday.

  • Locally, the ANZ activity outlook for March improved slightly to -8.5 from -9.2, while business confidence edged down to -43.4 from -43.3. This followed the earlier 9% slump in Feb building approvals (-9%), which are back to mid 2020 ranges from a levels standpoint.
  • These releases continue to suggest a challenging activity backdrop ahead of next week's RBNZ meeting, although market pricing remains at +25bps for the meeting.
  • Cross asset signals are fairly muted, with US equities down a touch, while US yields have firmed slightly.
  • NZD/USD has lagged the better equity tone globally since the start of the week, see the chart below, although the divergence is modest at this stage.

Fig 1: NZD/USD Versus Global Equities

Keep reading...Show less
195 words

To read the full story

Why Subscribe to

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.

NZD/USD has lost a little more ground as the morning session has progressed. The pair was last at 0.6210/15, around -0.20% below NY closing levels. This is line with the rest of G10 (ex JPY), which is mostly tracking softer versus the USD, although NZD and NOK are modestly underperforming. In terms of downside levels, lows near 0.6180 were supported on Monday.

  • Locally, the ANZ activity outlook for March improved slightly to -8.5 from -9.2, while business confidence edged down to -43.4 from -43.3. This followed the earlier 9% slump in Feb building approvals (-9%), which are back to mid 2020 ranges from a levels standpoint.
  • These releases continue to suggest a challenging activity backdrop ahead of next week's RBNZ meeting, although market pricing remains at +25bps for the meeting.
  • Cross asset signals are fairly muted, with US equities down a touch, while US yields have firmed slightly.
  • NZD/USD has lagged the better equity tone globally since the start of the week, see the chart below, although the divergence is modest at this stage.

Fig 1: NZD/USD Versus Global Equities

Keep reading...Show less