MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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 Steady Against Most Currencies, AUD/NZD Break Back Above 1.0900

NZD

The Kiwi is the worst performing G10 currency today although only slightly lower while ranges remain tight. There has been very little in the way of market headlines today, with focus turning to UST Auctions and US GDP later in the week, while NZGBs yields are 4-5bps lower.

  • NZD/USD is down 0.02% at 0.5918, just off highs of 0.5928 after failing to break above Monday's highs. The downward trend remains intact with the currency still trading below the 20, 50, 100 & 200-day EMAs, the 14-day RSI continues to tick up however still below 50. Initial support is 0.5852 (Apr 19 lows), while a break above Mondays highs would open up a move to 0.5950 {Apr 15 highs).
  • AUD/NZD is up 0.10% and back above 1.0900 at 1.0912. The pair now eyes a test of the 1.0920 area that it failed to break above back on the 15 & 16th April. The AU-NZ 2y swap is 2.5bps lower -88.75bps. Initial support is 1.0887 (20-day EMA), while a break back above 1.900 would be needed to retest 1.0920 (Apr 15 highs).
  • NZD/JPY is down 0.06% at 91.5540, the cross trades back above all major EMA indictors while the 14-day RSI indicator has also just ticked back above 50 to 54 indicating buyers are back in control. Initial support is 91.15/25 (50 & 20-day EMA), while initial resistance is 92.00 (Apr 11 highs).
  • Looking ahead, NZ Trade Balance & AU CPI on Wednesday.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign 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.