Free Trial

NZD/USD last trades at $0.6879, 11 pips........>

KIWI
KIWI: NZD/USD last trades at $0.6879, 11 pips higher on the day, as kiwi drew
support from broader risk appetite and a strong NZ services PMI print.
- After the pair breached Friday`s peak, bullish focus turns to the
psychological $0.6900 level. A jump onto the $0.69 handle would draw topside
attention to the upper 1.0% 10-DMA envelope at $0.6937. Conversely, initial
support is located at $0.6817, which represents the 21-DMA.
- The NZ economic calendar is rather empty this week, while any further
developments in Sino-U.S. trade relations will be closely watched. As a
reminder, China-U.S. negotiations resume in Washington this week.

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.