MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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

NZD/USD Finishes Lower on Strong US Data, Business Confidence Up Next

NZD
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

The Kiwi finished Monday's session down 0.13% at 0.6141, while the BBDXY finished a up 0.10% at 1,249.11. The currency trading higher heading into the US session before stronger-than-expected US consumer confidence provided the greenback with a temporary boost on Tuesday before receiving a second wind from higher US Treasury yields after tails at two- and five-year auctions.

  • NZD/USD reached new monthly highs of 0.6170 on Tuesday, the move was on the back of China announcing new stimulus measures to boost demand for property.
  • The move higher was short lived, as strong Consumer Confidence caused a rally in the USD, the pair fell 20-pips initially before closing the session at 0.6141. The 14-day RSI has ticked higher and now sits at 65, while the MACD holds steady.
  • Key levels to watch: Initial resistance of 0.6170 (May 28th highs) above here we target the 0.6200/20 (round number/ March 8 high), while initial support holds at 0.6083 (May 22nd lows), a break here would target 0.6078 (20-day EMA)
  • Fonterra Maintains 23/24 Milk Price forecast at NZ$7.8/KG.
  • The US-NZ 2y is 3bps lower at -24.5bps
  • Option expiries: 0.6115 ($196.24m) & 0.6050 ($200m) May 28th NY cut, while notable upcoming strikes are, 0.6195 ($150.12m) May 30, 0.5865 ($390m) May 30.
  • Looking ahead: NZ ANZ Business Confidence & Activity Outlook
213 words

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.

The Kiwi finished Monday's session down 0.13% at 0.6141, while the BBDXY finished a up 0.10% at 1,249.11. The currency trading higher heading into the US session before stronger-than-expected US consumer confidence provided the greenback with a temporary boost on Tuesday before receiving a second wind from higher US Treasury yields after tails at two- and five-year auctions.

  • NZD/USD reached new monthly highs of 0.6170 on Tuesday, the move was on the back of China announcing new stimulus measures to boost demand for property.
  • The move higher was short lived, as strong Consumer Confidence caused a rally in the USD, the pair fell 20-pips initially before closing the session at 0.6141. The 14-day RSI has ticked higher and now sits at 65, while the MACD holds steady.
  • Key levels to watch: Initial resistance of 0.6170 (May 28th highs) above here we target the 0.6200/20 (round number/ March 8 high), while initial support holds at 0.6083 (May 22nd lows), a break here would target 0.6078 (20-day EMA)
  • Fonterra Maintains 23/24 Milk Price forecast at NZ$7.8/KG.
  • The US-NZ 2y is 3bps lower at -24.5bps
  • Option expiries: 0.6115 ($196.24m) & 0.6050 ($200m) May 28th NY cut, while notable upcoming strikes are, 0.6195 ($150.12m) May 30, 0.5865 ($390m) May 30.
  • Looking ahead: NZ ANZ Business Confidence & Activity Outlook