Free Trial

NZD/USD last $0.6859, virtually unchanged on...>

KIWI
KIWI: NZD/USD last $0.6859, virtually unchanged on the day, having dropped 10
pips yesterday. 
- The release of FOMC meeting minutes yesterday pulled the rate 15 pips higher.
Otherwise, price action Thursday was driven by news flow re: U.S.-China trade
relations and broader dollar strength. 
- The pair posted a short-lived uptick upon the release of relatively strong NZ
cons. conf. & building permits data. However, the move has been entirely
retraced since. 
- Bears eye yesterday's lows of $0.6838 and a break below would allow them to
target the 21-DMA at $0.6787. Meanwhile, the nearby resistance is located at the
200-DMA at $0.6865 and a move through that level would open up Thursday's
intraday high at $0.6884. 
- NZ focus weekend turns to the Trump-Xi meeting, as the currency continues to
move on trade war developments.

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.