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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 trades flat at $0.6360, ~5 minutes.....>
KIWI: NZD/USD trades flat at $0.6360, ~5 minutes ahead of the publication of New
Zealand's BoP current account balance for Q2. The release precedes tomorrow's
GDP figures and next week's RBNZ MonPol decision.
- The rate lost altitude through Tuesday's Asia-Pac session, amid spill-overs
from the latest RBA MonPol meeting minutes (interpreted as a marginally dovish
signal), as well as the PBoC's decision to only partially roll the maturing MLF
at a steady interest rate. However, NZD/USD managed to bounce from intraday lows
as the greenback lost ground alongside U.S. Tsys yields, pressured by
money-market woes. This was accompanied by unexpected lifts in headline price
index (+2.0%) & whole milk powder prices (+1.9%) at the latest GDT auction.
- On the technical front, bulls look for a rally above $0.6392, the 23.6%
retracement of the Jul-Aug fall and also Monday's high. Failure to move towards
the level would reassure bears, prompting them to set sights on the lower 1.0%
10-DMA envelope at $0.6326. The latter level is where the rate bottomed out on
Aug 28 & Sep 4 and is situated just above Tuesday's high of $0.6322.
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.