MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZD Rallies For The Third Day

KIWI

Despite having hiccups in Thursday's Asia-Pac hours, NZD/USD recoiled later in the day, as the Kiwi clung to the coattails of AUD (bolstered by firmer gold & iron ore) and benefited from improving risk appetite and reported momentum demand. The rate gained for the third consecutive day, but fell short of testing the $0.6700 mark.

  • NZD/USD sits at $0.6685 at typing, near neutral levels. The high of Jul 31 at $0.6716 provides the initial bullish target and a break here would expose Dec 31, 2019 high of $0.6756. Bears need the rate to turn its tail and retreat under Aug 3 low of $0.6575 before taking aim at $0.6532/28, which cushioned losses on Jul 15-20.
  • Looking into next week's NZ docket, flash ANZ Business Confidence comes out on Monday, card spending figures hit on Tuesday. Then focus moves to the RBNZ's MonPol decision, due Wednesday. FPI & BusinessNZ M'fing PMI conclude the week on Friday.
BulletMarketsForeign Exchange Bullets
BulletMarketsForeign Exchange Bullets

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.