Free Trial

NZD/USD was pummelled by broader risk..........>

KIWI
KIWI: NZD/USD was pummelled by broader risk aversion, inspired by worries re:
the economic toll of the coronavirus pandemic & a possible second wave of the
infection.
- New Zealand's BusinessNZ M'fing PMI improved to 39.7 from the record low of
25.9, per the data released this morning.
- NZD/USD has been offered from the off and last sits -20 pips at $0.6411. A
drop below the nearby $0.6400 mark would open up the 200-DMA at $0.6321. Bulls
look for a rebound above the recent cycle high of $0.6584, printed on Jun 10.
- Looking further ahead, REINZ House Sales, Services PMI & food price index are
due Monday, Westpac Cons. Conf. hits on Tuesday, BoP current a/c balance comes
out Wednesday & GDP data is due Thursday.

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.