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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.
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Free AccessRests On Fibo Support Ahead Of RBNZ Decision
The 23.6% retracement of the Dec 1 - Mar 29 rally at NZ$1.0822 continues to provide firm support, with the rate struggling to close below there. Spot AUD/NZD last trades at NZ$1.0823, 12 pips lower on the day.
- Australia's Westpac Consumer Confidence Index jumped 6.2% M/M to 118.8 from 111.8, reaching the highest level since 2010.
- New Zealand's data included just the monthly migration figures today, with the main focus falling on the RBNZ's Monetary Policy Review, due at the top of the hour.
- A dip through the aforementioned Fibo level & Apr 2 low of NZ$1.0810 would give bears a green light for taking aim at the 50-DMA/Mar 22 low at NZ$1.0784/82. Bulls see Apr 6 high of NZ$1.0876 as their initial target. A break here would expose Mar 29 cycle high of NZ$1.0947.
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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.