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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 AccessMNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
NZD/USD Edges Higher, WBC Raises CPI Forecast
- NZD/USD has pushed higher after earlier making lows of 0.6144, the pair hit highs of 0.6159 and currently trade there now up 0.13% for the day. The move higher corresponded with WBC NZ raising their 1Q inflation target to 0.8% q/q vs the RBNZ forecast of just 0.4% q/q and CPI at 4.2% y/y
- Key levels to watch: Initial resistance at 0.6217 (Mar 8 high), a break above opens a move to the 0.6250 area (Jan 15 high). Initial support at 0.6136 (Mar 12 lows), below here, 0.6115/.6120 (100 & 200-day EMA).
- Option expiries, there are US$1.605b of NZD/USD puts at a strike of 0.6161-0.6185 expiring between Mar 12th and March 15th.
- Statistics NZ announces review of CPI basket, says CPI basket will be updated in April 2025
- Looking ahead, RBNZ Gov Orr will again speak to Clients in London, there are no notes expected, while Thursday Reinz House Sales are Due out.
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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.