MNI BRIEF: Inflation Now Consistent With Target-EC Dombrovskis

MNI China Daily Summary: Monday, November 4

MNI BRIEF: Key China Steel Province's PMI Up Sharply In Oct

MNI NBP WATCH: CPI, Core Point To First Cut In Q2 2025

RPT-MNI POLICY: Mexico FX Intervention Only In Market Disorder

MNI: PBOC Net Drains CNY224.3 Bln via OMO Monday

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI: US SEP FACTORY ORDERS -0.5%; EX-TRANSPORT NEW ORDERS +0.1%

MNI: EUROZONE OCT FINAL MANUF PMI 46.0 (FLASH 45.9); SEP 45.0

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZD: NZD/USD Back Around 0.6000, USD Falls With As US Election Race Tightens

NZD
USGlobalAPACNew ZealandBulletMarketsForeign Exchange BulletsRegionNorth America

NZD/USD has firmed in early Monday dealings, the pair pushing back above 0.6000, around 0.65% above end Friday levels in NY trade. Broader USD sentiment has noticeably softened this morning, as markets turn more cautious on the prospects of a Trump victory at this week's US Presidential election.

• This follows the weekend's latest opinion polls, which pointed to a tight race, with Harris gaining ground in some swing states.
• For NZD/USD, the 20-day EMA is higher at 0.6044, while recent lows were at 0.5940. NZD is only being outperformed by AUD so far in the G10 space today, although yen is up around 0.50%.
• Focus will be on how US Tsys open up, although note there will be no cash trading today, due to the Japan holiday. Futures will trade though, likewise for US equity markets.
• Locally today, there is little to focus on domestically. Earlier headlines crossed from the RBNZ around the risks from geopolitical risks cannot be underestimated (per Rrts). These were in reference to the impact on domestic financial stability.
• The AUD/NZD cross is higher, last near 1.1035/40. Oct highs were closer to 1.1100.

187 words

To read the full story

Close

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/USD has firmed in early Monday dealings, the pair pushing back above 0.6000, around 0.65% above end Friday levels in NY trade. Broader USD sentiment has noticeably softened this morning, as markets turn more cautious on the prospects of a Trump victory at this week's US Presidential election.

• This follows the weekend's latest opinion polls, which pointed to a tight race, with Harris gaining ground in some swing states.
• For NZD/USD, the 20-day EMA is higher at 0.6044, while recent lows were at 0.5940. NZD is only being outperformed by AUD so far in the G10 space today, although yen is up around 0.50%.
• Focus will be on how US Tsys open up, although note there will be no cash trading today, due to the Japan holiday. Futures will trade though, likewise for US equity markets.
• Locally today, there is little to focus on domestically. Earlier headlines crossed from the RBNZ around the risks from geopolitical risks cannot be underestimated (per Rrts). These were in reference to the impact on domestic financial stability.
• The AUD/NZD cross is higher, last near 1.1035/40. Oct highs were closer to 1.1100.