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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
Firmer commodity prices and greenback sales briefly pushed NZD/USD through the $0.7000 mark Wednesday, but after peaking at $0.7026 the rate pulled back over the last WMR fix of Q1 and gave up the bulk of its earlier gains.
- CoreLogic House Price Index surged 16.1% Y/Y in Mar after rising 14.5% in Feb. House price inflation accelerated to the fastest pace in 15 years.
- ANZ Consumer Confidence Index fell 2.0% M/M to 110.8 from 113.1 in Mar after a 0.6% downtick in Feb. ANZ said that their confidence gauge appears to have "topped out." Worth noting that inflation expectations edged higher to 1.97% from 1.95%.
- Weekly experimental jobs data from Stats NZ showed that 7,280 paid jobs were shed in the week through Feb 21. The data series is not subject to seasonal/quality adjustments.
- NZ Tsy released its financial statements for the eight months through Feb. Budget deficit registered at NZ$3.66bn, below the projected NZ$8.17bn, as core tax revenue beat expectations by NZ$2.28bn.
- NZD/USD last seen at $0.6983, little changed on the day. A jump above Mar 30 high of $0.7034 would open up the 100-DMA at $0.7136. Bears look for a dip through Mar 25 low of $0.6943, towards the 200-DMA at $0.6883.
- Local markets will be closed for a public holiday this Friday.
Fig. 1: New Zealand CoreLogic House Price Index Y/Y (%)
Source: MNI - Market News/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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