MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

NZD Outperforms Post RBNZ Decision

FOREX

Outside of NZD gains, the general G10 FX tone has been a quiet one ahead of key event risks in the US later. The BBDXY was last near 1240.65, slightly down on end Tuesday levels.

  • NZD/USD is up around 0.25% in latest dealings, which puts the pair at 0.6075. The RBNZ left rates on hold as expected, but didn't give off any dovish rhetoric. The central bank reiterated that restrictive policy has to be maintained for a sustained period to ensure a return to the inflation target.
  • For NZD/USD we are right on Tuesday highs and testing resistance at the 50-day EMA. A break above would likely see 0.6100 targeted, while initial support is at 0.6040 (20-day EMA), then 0.6000 (round number support).
  • AUD/USD sits slightly weaker, last near 0.6620. This has helped nudge the AUD/NZD cross back to 1.0900, with recent highs at 1.0950/60.
  • USD/JPY has been steady, last in the 151.75/80 region. BoJ Governor Ueda was again before parliament. He noted the BOJ would consider monetary policy change should the risk of the underlying inflation rate rising above 2% increase due to higher import prices driven by the weak yen. His appearance didn't impact yen though.
  • Looking ahead, the main focus in the US session will be the CPI print, followed by the FOMC Mins.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.