Free Trial

NZD/USD Extends Losses After FOMC Minutes

KIWI

NZD/USD retreated Wednesday, driven by the greenback's recovery ahead of & after the release of minutes from the FOMC's most recent MonPol meeting. The Fed's reluctance towards providing more clarity on forward guidance/introducing YCC lent support to the greenback, prompting NZD/USD to descend onto its 50-DMA.

  • RBNZ Asst Gov Hawkesby spoke this morning, sticking to a familiar script re: preparing additional policy tools & their order of preference.
  • The rate last sits at $0.6560, almost unchanged. A fall through Aug 17 low of $0.6520 would open up Jul 14 low of $0.6503. Meanwhile, a jump above Wednesday's high of $0.6651 would expose Aug 7 high of $0.6691.
  • New Zealand's credit card spending comes out on Friday.

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.