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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.
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Free AccessNZD/USD takes a nosedive as the RBNZ...........>
KIWI: NZD/USD takes a nosedive as the RBNZ unexpectedly cuts the OCR by 50bps,
defying consensus forecast of a 25bps cut. Per the accompanying statement, the
decision came as a result of deciding between a 50bps cut vs. a 25bps cut &
communicating an easing bias. The RBNZ noted that the cut expresses its
commitment to sustaining employment growth & pushing inflation towards the
mid-point of the target range.
- Re: yesterday's reassuring labour mkt report, members "welcomed the recent
employment and wage data but noted that private sector wage growth was subdued
despite businesses having difficulty finding labour."
- NZD/USD is extending losses after hitting a reaction low of $0.6446 and now
trades at $0.6442, 83 pips worse off. The pair hasn't operated at these levels
since Oct 2018. Bears look to the low of Oct 8 2018 at $0.6425, the worst level
touched over the last ~3.5 years. A break here would open the trendline support,
today at $0.6413. Bulls look to retake the lower Bollinger band (2%) at $0.6462
before taking aim at the $0.6500 mark.
To read the full story
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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.