Free Trial

NZD/USD lost some ground Tuesday, but is yet...>

KIWI
KIWI: NZD/USD lost some ground Tuesday, but is yet to test the psychological
$0.6600 barrier, its 2020 low. A soft domestic building permits print and fading
yuan strength deflated NZD, rendering it the worst G10 performer.
- New Zealand's food price index fell 0.2% M/M in December, after easing 0.7%
the prior month, per the data released in the NY/Asia crossover.
- With NZD/USD trading -3 pips at $0.6612, the focus remains on the $0.6600
mark. A clean break here would allow bears to gain the upper hand and target the
Dec 18 low of $0.6554. On the flip side, bulls need to retake the 21-DMA/Jan 13
high at $0.6652/53 before attempting a move at the Jan 6 high of 0.6680.
- In the local data, BusinessNZ will publish their m'fing PMI survey on Friday.
Elsewhere, China will release economic activity indicators & GDP on Friday.

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.