Free Trial

NZD/USD sits at $0.6415, almost unch., with....>

KIWI
KIWI: NZD/USD sits at $0.6415, almost unch., with NZ FPI coming up shortly.
- This occurs after the pair dropped 13 pips Wednesday, as gains registered
towards the end of the Asia session were given away. Some topside momentum was
ignited by a tweet from the Global Times' Editor in Chief, who suggested that
"China will introduce important measures to ease the negative impact of the
trade war," sending NZD/USD to just shy of $0.6440. However, the rate faltered
due to USD strength ahead of the anticipated policy "Bazooka" from the ECB.
- Bears look for a break under the $0.6400 barrier, which would open the 21-DMA
at $0.6385. Meanwhile, a rally above the upper 1.0% 10-DMA envelope/Sep 9 peak
at $0.6444/45 would please bulls. 
- Wellington is advancing its "wellbeing budget" idea. Yesterday, NZ authorities
introduced a bill which will oblige future gov'ts to set wellbeing objectives &
explain how they have driven budget creation, while a gov't agency managing
public accommodation has priced NZ$600mn of "wellbeing bonds."
- BusinessNZ will publish its latest m'fing PMI survey on Friday, while REINZ
house sales data is exp. by the end of 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.