Free Trial
USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Trend Needle Points North

US TSYS

Bonds Near Highs, Yield Curves Flatter

EURJPY TECHS

Bearish Outlook

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Recent Cyclical Lows Are In Sight

NZD

NZD/USD ground lower Wednesday, mostly due to better demand for the greenback. Fed Chair Powell revived recession fears as he suggested that curbing inflation will be a priority going forward.

  • Cross-asset signals may have applied some pressure late doors, as crude oil dipped, dragging Bloomberg Commodity Index lower.
  • NZD/USD sales allowed the pair to narrow in on its cyclical low of $0.6197 printed on Jun 14. The rate's 1-month risk reversal extended its pullback from Jun 28/two-week high.
  • Spot NZD/USD trades at $0.6226, up 6 pips on the day. If we get below $0.6197, bears could set their sights on May 22, 2020 low of $0.6081. Bulls need a jump above Jun 24/27 highs of $0.6327 before targeting Jun 16 high of $0.6396.
  • FinMin Robertson caught COVID-19 and is isolating at home, but he will continue deputising for PM Ardern for now. As a reminder, Ardern is in Europe for the "concluding stages" of trade talks with the EU.
  • ANZ will publish its Business Outlook Survey within a few hours. In addition, RBNZ Chief Economist Conway will speak at the National Property Conference.
  • Looking further afield, Friday will see the release of ANZ-Roy Morgan Consumer Confidence, CoreLogic House Price Index & building permits.
197 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

NZD/USD ground lower Wednesday, mostly due to better demand for the greenback. Fed Chair Powell revived recession fears as he suggested that curbing inflation will be a priority going forward.

  • Cross-asset signals may have applied some pressure late doors, as crude oil dipped, dragging Bloomberg Commodity Index lower.
  • NZD/USD sales allowed the pair to narrow in on its cyclical low of $0.6197 printed on Jun 14. The rate's 1-month risk reversal extended its pullback from Jun 28/two-week high.
  • Spot NZD/USD trades at $0.6226, up 6 pips on the day. If we get below $0.6197, bears could set their sights on May 22, 2020 low of $0.6081. Bulls need a jump above Jun 24/27 highs of $0.6327 before targeting Jun 16 high of $0.6396.
  • FinMin Robertson caught COVID-19 and is isolating at home, but he will continue deputising for PM Ardern for now. As a reminder, Ardern is in Europe for the "concluding stages" of trade talks with the EU.
  • ANZ will publish its Business Outlook Survey within a few hours. In addition, RBNZ Chief Economist Conway will speak at the National Property Conference.
  • Looking further afield, Friday will see the release of ANZ-Roy Morgan Consumer Confidence, CoreLogic House Price Index & building permits.