MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

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 Hovers Above Multi-Month Lows

NZD

The pace of NZD/USD sell-off slowed on Wednesday, but the pair ground lower nonetheless, extending recent losses to multi-month lows. A collapse in NZGB yields helped weigh on the kiwi, even as a firmer commodity complex likely limited losses.

  • Barfoot & Thompson said that the sales rate at their auctions last week slipped to 61% from 72% seen the previous week.
  • BNZ assessed that the gov't is "dead set" on curbing house prices, "will do what it takes" and "will almost certainly win in the end."
  • NZD/USD has edged higher this morning and last sits +6 pips at $0.6968. Bulls look for further gains past Mar 5 low of $0.7100 & the 100-DMA at $0.7128. Bears look for a dip through Wednesday's low of $0.6956, towards the 200-DMA at $0.6870.
  • Today's non-resident bond holdings will conclude NZ data releases for this week.
BulletMarketsForeign Exchange Bullets
BulletMarketsForeign Exchange Bullets

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.