MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZD/USD Opens Slightly Higher, 2Y Yields Hits 5%, Filled Jobs Up Next

NZD
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

The Kiwi edged lower on Friday, although was still one of the top performing G10 currencies. The NZD finished down 0.13% for the day, but up 0.88% for the week verses the USD. NZGBs yields pushed higher with the 2y trading above 5% late Friday, while the currency also benefitted from risk on tone last week with major US equity Indices up 2-3% last week. The BBDXY closed 0.26% higher on Friday at 1,263.43.

  • The NZD/USD has opened slightly higher to start the week, up 0.10% at 59.47. The pair remains in a downtrend as it continues to trade below the 20, 50, 100 & 200-day EMA's, although we are testing the 20-day EMA, the 14-day RSI has ticked up again now at 45, while the MACD is showing diminishing red bars, signally a protentional turnaround.
  • Key levels to watch: Initial support is 0.5900 (round number support) a move below here would open a retest of 0.5852 (Apr 19 lows). Initial resistance is 0.5957 (20-day EMA), above here the 0.5070 (Apr 26 highs/ last week high)
  • The US-NZ 2y is down 4bp to -20.75bps
  • Option expiries: 0.5840 (NZD332.2m), 0.6010 (NZD260.07m), while notable upcoming strikes are 0.5940 (NZD959.7m May 1), 0.5855 (NZD713m May 1), 0.5950 (NZD645.6m May 1)
  • Looking ahead: Filled Jobs at 8.45am AEST and Tomorrow ANZ Business Confidence & Activity Outlook
222 words

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.

The Kiwi edged lower on Friday, although was still one of the top performing G10 currencies. The NZD finished down 0.13% for the day, but up 0.88% for the week verses the USD. NZGBs yields pushed higher with the 2y trading above 5% late Friday, while the currency also benefitted from risk on tone last week with major US equity Indices up 2-3% last week. The BBDXY closed 0.26% higher on Friday at 1,263.43.

  • The NZD/USD has opened slightly higher to start the week, up 0.10% at 59.47. The pair remains in a downtrend as it continues to trade below the 20, 50, 100 & 200-day EMA's, although we are testing the 20-day EMA, the 14-day RSI has ticked up again now at 45, while the MACD is showing diminishing red bars, signally a protentional turnaround.
  • Key levels to watch: Initial support is 0.5900 (round number support) a move below here would open a retest of 0.5852 (Apr 19 lows). Initial resistance is 0.5957 (20-day EMA), above here the 0.5070 (Apr 26 highs/ last week high)
  • The US-NZ 2y is down 4bp to -20.75bps
  • Option expiries: 0.5840 (NZD332.2m), 0.6010 (NZD260.07m), while notable upcoming strikes are 0.5940 (NZD959.7m May 1), 0.5855 (NZD713m May 1), 0.5950 (NZD645.6m May 1)
  • Looking ahead: Filled Jobs at 8.45am AEST and Tomorrow ANZ Business Confidence & Activity Outlook