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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 last deals 6 pips higher at $0.6264....>
KIWI: NZD/USD last deals 6 pips higher at $0.6264. The kiwi has drawn some
support from China's clarification that its decision to cancel a planned visit
in U.S. farm states is not related to trade talks.
- The rate lost altitude on Friday, printing a fresh cycle low of $0.6255 in the
process. An S&P piece highlighting weaknesses in NZ banking system applied
weight to the pair in Asia-Pac hours, but a stronger yuan limited the downside.
Sell-off accelerated into Europe as USD regained poise. This allowed NZD/USD to
extend its weekly losses to ~120 pips, with implied odds of a rate cut at
Wednesday's RBNZ meeting increasing to ~34% from ~14% seen the previous Friday.
- A fall under the aforementioned cycle low of $0.6255 would clear the way
towards the lower 2.0% 10-DMA envelope at $0.6232. Bulls look for a rebound
above $0.6300/01, which represent a psychological level/23.6% fibo retracement
of the Sep 12-Sep 20 slide.
- The RBNZ monetary policy decision, due on Wednesday, headlines the local
docket this week. Other points of note include trade balance (also Wednesday)
and ANZ consumer confidence survey (Friday).
To read the full story
Sign up now for free trial access to this content.
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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.