Free Trial

NZD/USD last seen at $0.6768, a touch higher...>

KIWI
KIWI: NZD/USD last seen at $0.6768, a touch higher on the day.
- The rate finished 35 pips better off Friday, buoyed by positive risk sentiment
through the day. Although NZD/USD started by coming under pressure from somewhat
disappointing NZ BusinessNZ m'fing PMI and card spending figures, the release of
strong Chinese trade balance and financing data in the European morning ignited
the upside momentum. Solid European and U.S. equity performance allowed NZD/USD
to continue its ascent and peak at $0.6781 before easing off slightly towards
the close.
- Above the psychological $0.6800 level, which capped gains on Apr 3 & Apr 4,
would open up the 100-DMA/50-DMA at $0.6808/13. Meanwhile, the downside
attention is drawn to the recently breached 200-DMA at $0.6733, ahead of
Friday's monthly low of $0.6714.
- NZ services PMI comes out at the bottom of the hour, while domestic CPI will
follow on Wednesday. Focus will also fall on Chinese industrial output, retail
sales and GDP, due Thursday, as well as any fresh details re: the finalisation
of the Sino-U.S. trade deal.

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.