FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

NZD/USD Pares Losses, Unable to Break Tuesday Lows

NZD
  • NZD/USD sold off earlier as risk assets moved lower, briefly touching a low of 0.6069. Equity markets have since bounced off the low and are pushing higher, with the HSTech Index now up 2.35%. NZD/USD has reversed the earlier move to trade unchanged for the day at 0.6087.
  • Key levels to watch: Initial support at 0.6071 (Mar 5th lows), below here 0.6064 (Jan 23 lows). A break of those levels opens up a retest of the yearly lows at 0.6038. To the upside, initial resistance at 0.6112 (March 4th highs). A break above opens a move to the 0.6125/35 area (20 & 50-Day EMAs).
  • Earlier, Chief Economist for the RBNZ, Conway, noted that policy is likely to need to stay restrictive for some time and that household inflation expectations remain a watchpoint. He noted the RBNZ may be able to start easing sooner, but this would likely be contingent on the Fed easing in the second half of this year.
  • Looking ahead: Little on the calendar for the remainder of the week other than Manufacturing Activity Volume and NZ to Sell 3yr, 7yr & 20yr Bonds on Thursday.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.