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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.
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Free AccessMNI China Daily Summary: Monday, December 9
NZD/USD Failed 0.6200, AUD/NZD Making Fresh Yearly Lows
- NZD/USD benefitted early from risk on move after Nvidia beat estimates, causing equity markets to surge higher. The pair looked like breaking Wednesday highs but was unable to do so, currently trading at 0.6185. Initial technical resistance holds at 0.6206 the Jan 16 high, while support sits at 0.6163 (lows from Feb 21)
- AUD/NZD broke below 1.060 earlier making fresh yearly lows of 1.0586, before quickly reversing however the pair was unable to break back above 1.060 and currently hovers above the new yearly lows at 1.0588, technical support holds at 1.0560 the lows from May 2023.
- Earlier NZ released Trade data: Trade Deficit -976m vs -323m prior, Exports 4.93b vs 5.94b, Imports 5.91b vs 6.26b with the 12M Trade deficit at -12,496b vs -13.567b.
- Elsewhere, New Zealand Finance Minister Nicola Willis plans to meet Australian Treasurer Jim Chalmers on Thursday, aiming to discuss the new government's approach focused on fostering an environment for increased business investment and positioning New Zealand as a hub for talent, capital, and innovation.
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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.