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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 AccessNZD/USD has fluctuated around neutral levels...>
KIWI: NZD/USD has fluctuated around neutral levels and last trades +4 pips at
$0.5949. New Zealand's BoP current account deficit narrowed to -NZD2.657bn from
-NZD6.260 in Q4 vs. exp. of -NZD2.833bn, but the release provoked little
reaction with all eyes still on the coronavirus goings-on.
- Domestically, the dust settles after a double-barrel stimulus deployed by NZ
authorities. The RBNZ fired the opening salvo on Monday, slashing the OCR &
stating that it may deploy QE if needed. The gov't followed yesterday with a
large stimulus package, worth 4% of NZ GDP.
- NZ declared 8 new coronavirus cases, bringing their total number to 20.
- Headline price index fell 3.9% at Tuesday's GDT auction, but it still topped
the expectations of some analysts. Whole milk powder prices fell 4.2%.
- Bears target y'day's low of $0.5916, with the lower 3.0% Bollinger band coming
in at $0.5839. Bulls look for a jump above yesterday's peak at $0.6096, towards
Monday's high of $0.6151.
- Tomorrow's Q4 GDP headlines the NZ docket during the remainder of this week,
with card spending data due on Friday.
To read the full story
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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.