Free Trial

Retreats From Two Month High

NZD

NZD/USD prints $0.6010, down ~0.2% in today's trading.

  • The pair has traded in a $0.5985/0.6020 range today, seesawing around the 100-Day EMA at $0.6009. Kiwi printed lows as the USD squeezed higher on a USD/JPY bid as some of the post CPI gains were unwound, before paring losses to trade at current levels.
  • Bulls target $0.6137, high from Sep 13, whilst bears target 50-day EMA at $0.5871.
  • Earlier, the manufacturing PMI slipped to 49.3, from a revised 51.7 last month. This is the weakest levels for the index since August 2021. Food prices also printed, rising 0.8%, versus 0.4% last month.
  • With a light data calendar for the remainder of the session participants will look for any wider swings in risk sentiment to provide direction for NZD.

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.