Free Trial

NZD was the underperformer among the majors....>

KIWI
KIWI: NZD was the underperformer among the majors overnight as U.S. equity
futures pulled back to neutral levels in early trade, although the subsequent
mild uptick in index futures did little to reverse the tide in the pair. NZD/USD
last 30 pips or so softer at $0.6805.
- The cross was supported by a broadly weaker USD on Wednesday & reports that
Peter Navarro will be side lined at the upcoming G20 summit, where U.S. Pres.
Trump is exp. to meet his Chinese counterpart Xi. This had allowed NZD/USD bulls
to clear the Nov 7 high of $0.6814, which they now need to reclaim to allow them
to look to $0.6870, where the rate peaked Tuesday. Meanwhile, bears eye a break
of yesterday's low at $0.6782 before targeting the Nov 14 low at $0.6756.
- AUD/NZD flow & the broader risk appetite are likely to remain key for the
remainder of the week, with a thin NZ docket apparent.
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.