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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

KIWI
KIWI: NZD/USD trades a touch lower at $0.6289. It has faced a degree of pressure
as NZ food price inflation ground to a halt from +0.7% M/M seen the month
before, while an SCMP source piece pointed to no progress on key sticking points
in deputy-level U.S.-China trade talks.
- The rate made a foray towards Monday's high yesterday and peaked just shy of
there before retreating. A stronger than expected PBoC fix calmed markets roiled
by the latest developments in the Sino-U.S. spat, pushing NZD/USD higher in
Asia-Pac hours. The kiwi was further aided by the ANZ's decision to raise their
Fonterra milk price forecast. Headlines pointing to the potential for a
U.S.-China mini-deal helped extend gains, before the rate slid in NY hours amid
a broader USD recovery, driven by higher U.S. Tsy yields & a firmer S&P500.
- Bears look for a break under $0.6255, where the rate bottomed on Sep 20, Sep
23 and Oct 3. Bulls need a lift through the $0.6300 mark before targeting
$0.6327/28, the high of Oct 8/mid-point of the Sep 12 - Oct 1 slide.
- NZ card spending figures and manufacturing PMI survey from BusinessNZ are due
on Friday. By the end of this week REINZ will publish its house sales data.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com