BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

MNI: US BLS: JOLTS QUITS RATE 2.2% IN MAY

MNI: US BLS: JOLTS OPENINGS RATE 8.140M IN MAY

MNI: US REDBOOK: JUN STORE SALES +5.6% V YR AGO MO

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZD/USD Finds Support Sub 20-Day EMA, Trade Figures On Tap

NZD

NZD was amongst the weakest performers within G10 through Tuesday's session, falling on par with AUD and SEK. NZD/USD currently tracks at 0.6345/50, -0.30% in the past 24 hours.

  • We did dip to 0.6301 late yesterday and during NY trading, which saw the pair break below uptrend channel support, and move below the 20-day EMA, which comes in a 0.6311. We managed to rebound into the close to track around current levels though.
  • The ANZ December consumer confidence number has already printed, falling 8.6% to 73.8, which is also fresh record lows. This continues the run of recent poor survey results this week in NZ.
  • Coming up shortly is NZ trade data for November. The last trade deficit print was -NZ$2129mn. There are no consensus estimates for the trade figures.
  • During the NY session we also got the whole milk auction price update, which fell by 3.8% to $3493/tonne.
  • NZD/JPY is down over 4% for Tuesday's session, last tracking near 83.55/60. We fell to 82.67 during NY trading, before some support kicked in, but we are comfortably below all key MAs.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.