FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Risk Sentiment Sours

NZD

A combination of factors sapped strength from NZD/USD Thursday. The PBOC raised its FX RRR by 2pp in a bid to reign in yuan strength, with resultant redback weakness spilling over into the Antipodeans. Separately, concerns over high transmissibility of the Omicron coronavirus variant resurfaced, undermining the broader risk appetite.

  • The pair last sits at $0.6796, little changed on the day. Downside focus falls on $0.6737, which limited losses on Dec 7. Conversely, a break above Dec 1 high of $0.6868 would please bulls.
  • BusinessNZ Manufacturing PMI fell to 50.6 in November from 54.2 prior, despite the general easing of restrictions "in and around Auckland." All sub-indices printed below their long-term averages, while accompanying commentary noted that "the bounce in Q4 [GDP] might not be as much as some are expecting."
  • The main highlights next week include REINZ House Sales (Monday), BoP current account balance (Wednesday), GDP (Thursday) as well as ANZ Consumer Confidence & Business Confidence (Friday).
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.