Trial now

(Z1) Bearish Trend Condition


(Z1) Bearish Price Sequence


(Z1) Off Recent Highs


(Z1)‌‌ Support Appears Exposed

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

NZD is top of the pile again today. NZD/USD up 33 pips, punching through resistance from Jul 15 high of $0.7045 as updates to sell-side RBNZ views in reaction to New Zealand's latest labour market report have started to trickle through; all of the big 4 now look for 25bp hikes at each of the final three meetings of 2021. Data showed the unemployment rate dropped to 4.0% (BBG est. was 4.4%) from the revised 4.6% recorded in Q1 on the back of a stronger than expected surge in employment.

  • AUD/USD is up 3 pips, data showed final July services PMI in-line with the previous at 44.2, composite also in-line at 45.2, earlier construction PMI fell to 48.7 from 55.5. Retail sales remain on the docket on Wednesday while Chinese Caixin services & composite PMI readings will also be released today.
  • USD/JPY is down 4 pips. Markets await Jibun Bank services PMI later in the session. PM Suga said Tuesday that Japan will now only hospitalise severe and high-risk cases of Covid-19 to ease pressure on the healthcare system.
  • Offshore yuan is flat after finishing with some mild losses on Tuesday. As mentioned previously markets await services PMI data after a weak set of official and Caixin manufacturing PMI figures earlier this week. The coronavirus situation continues to be a focus with case numbers creeping up and lockdowns tightened.