Free Trial
US OUTLOOK/OPINION

Recession Consensus Mounts: Timing/Severity Vary (3/4)

US TSY FUTURES

BLOCK, 2Y Sale

EURGBP TECHS

Trend Signals Point North

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
KIWI
KIWI: NZD/USD last deals at $0.6529, barely changed on the day, with NZ BoP
current account data expected at 23:45 BST. The release will be closely watched
ahead of tomorrow's publication of NZ Q1 GDP.
- The rate gyrated around neutral levels in yesterday's Asia-Pac hours, limited
by post-RBA minutes AUD weakness, amid broader risk-off mood.
- However, soaring risk appetite ignited upside momentum in the European & U.S.
hours. Comments from ECB Pres Draghi, who said that rate cuts remain part of the
ECB's toolkit & additional stimulus might be needed boosted European equities.
- NZD/USD then staged another rally on yet another wave of optimism as U.S. Pres
Trump said that he had a phone conversation with Chinese Pres Xi & the two will
meet at the G20 summit. NZD/USD topped out just shy of $0.6540 as a result.
- Risk developments overshadowed a downtick in whole milk powder prices at the
latest GDT auctions and the kiwi finished comfortably atop of the G10 pile.
- Bulls look to the May 31 high of $0.6548 and above here opens the 21-DMA/May
27 & 28 highs at $0.6557/59. Meanwhile, bears need a retreat below $0.6500
before setting their sights on the YtD low of $0.6482.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.