Free Trial

NZD/USD trading a more contained fashion.......>

KIWI
KIWI: NZD/USD trading a more contained fashion than AUD/USD, drawing support
from AUD/NZD flows on the back of the weaker than expected AU GDP data.
- Rate last deals at $0.6943, 15 or so pips higher on the day after it drew
support from the positive trade rhetoric out of China's MOFCOM earlier, although
a more balanced tweet from U.S. President Trump limited the pair.
- NZD showed little impact from the uptick in prices at the latest GDT auction,
with focus on Fonterra's farmgate milk exp., due tomorrow, and also discounted
local data earlier in the session, preferring to trade off broader risk
appetite/sentiment.
- Initial resistance noted at yesterday's session high of $0.6970. Support seen
at yesterday's low of $0.6918, followed by Monday's low at $0.6889, which
protects the 200-DMA at $0.6862.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.