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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.
NZD
NZD/USD prints at $0.6240/45, the pair has marginally extended early gains after the NZ April Trade Balance printed a surplus of $427mn.
- We sit at session highs at the 20-Day EMA ($0.6242). The 200-Day EMA ($0.6258) presents as the first target for bulls, a break through here opens high from May 11 ($0.6385).
- Rate differentials, observed via 2 year swap rates, sit at +119bps and point to further potential upside in NZD/USD.
Fig 1: NZ US 2 Year Swap vs NZD/USD Daily Spot
Source: MNI/Bloomberg
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.
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