MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

MNI DATA FORECASTS: RBA, Riksbank In Focus

MNI: US ISM JAN SERVICES COMPOSITE INDEX 55.2

RBA Watch

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

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Outperforming G10 Despite Weaker US Equities

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NZD/USD sits just under$0.6100, slightly down from levels in late NY trading.

  • NZD/USD traded in a $0.6067/0.6120 range yesterday. The Kiwi found support again at $0.6060 in overnight dealing as resilience in Chinese listed equities in the US helped support the bird. Both AUD and NZD have outperformed across the G-10 space, with better China-related sentiment likely helping. DXY was up ~0.5% for Monday's.
  • US Stocks fell, S&P500 down ~0.9%, as Fed's Brainard unscored the data dependence of the Fed. Cryptocurrencies rose on plans by Biance to set up a market recovery fund to stabilize the industry after FTXs bankruptcy sparked market wide losses of around $200 billion last week.
  • Bulls look to target the September high at $0.6161 then the 200-day EMA at $0.6243. Bears will look to the 100-day EMA at $0.6013 to re-establish the downtrend.
  • Earlier this morning we had REINZ House Sales YoY print at -34.7%, prior was -10.9%. Hose prices were also down -7.5% y/y, but the trend has improved somewhat in recent months.
  • There is a thin domestic data calendar today, with just net migration figures due shortly. Fed's Williams speaks at 11:30pm GMT/10:30AM AEDT.
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NZD/USD sits just under$0.6100, slightly down from levels in late NY trading.

  • NZD/USD traded in a $0.6067/0.6120 range yesterday. The Kiwi found support again at $0.6060 in overnight dealing as resilience in Chinese listed equities in the US helped support the bird. Both AUD and NZD have outperformed across the G-10 space, with better China-related sentiment likely helping. DXY was up ~0.5% for Monday's.
  • US Stocks fell, S&P500 down ~0.9%, as Fed's Brainard unscored the data dependence of the Fed. Cryptocurrencies rose on plans by Biance to set up a market recovery fund to stabilize the industry after FTXs bankruptcy sparked market wide losses of around $200 billion last week.
  • Bulls look to target the September high at $0.6161 then the 200-day EMA at $0.6243. Bears will look to the 100-day EMA at $0.6013 to re-establish the downtrend.
  • Earlier this morning we had REINZ House Sales YoY print at -34.7%, prior was -10.9%. Hose prices were also down -7.5% y/y, but the trend has improved somewhat in recent months.
  • There is a thin domestic data calendar today, with just net migration figures due shortly. Fed's Williams speaks at 11:30pm GMT/10:30AM AEDT.