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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.
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Free AccessNZD Jumps On Bumper Inflation
NZD is the biggest gainer in early trade, NZD/USD up 34 pips after a bumper CPI print put wind in the sales of the hawkish RBNZ narrative seen earlier this week. Inflation rose to 3.3%, above estimates of 2.8% and breaching the RBNZ's target band.
- AUD didn't benefit from the upside in its Antipodean neighbour, AUD/USD up 3 pips. The local coronavirus situation will continue to be in focus; Melbourne has entered a five-day lockdown after Sydney extended restrictions earlier this week.
- JPY is higher, USD/JPY down 9 pips. The latest BoJ decision headlines the local docket on Friday, with the focus set to fall on the BoJ's "green" policy tweaks. Elsewhere, Kanagawa prefecture mulls seeking a Covid-19 state of emergency, according to a Yomiuri source report.
- Offshore yuan is slightly weaker, USD/CNH up 22 pips. Speaking at a joint press conference with German Chancellor Merkel, US President Biden said the US are to sanction Chinese officials over Hong Kong.
- As a reminder, towards the end of the US session Treasury Secretary Yellen said that while she still thought inflation was transitory there could be several months of high inflation prints ahead.
To read the full story
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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.