Free Trial
AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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
AUSSIE-KIWI

AUD/NZD pulled back from its best levels since 2018 under the psychological NZ$1.1000 mark yesterday, as NZD picked up a bid despite lingering coronavirus concerns & MonPol dynamics. The move seemed driven by profit taking and allowed the rate to snap its longest winning streak in nearly three decades.

  • Even as AUD/NZD turned its tail yesterday, bulls hope that the RBNZ's increasing openness toward negative interest rates and the RBA's reluctance to adopt this policy measure will fuel further gains. OIS markets are pricing ~39bp worth of rate cuts from the RBNZ by Jul 2021, with the OCR currently sitting at 0.25%.
  • Meanwhile, New Zealand scrambles to contain the resurfacing coronavirus, but the Health Min ruled out raising alert level in Auckland to 4 from the current 3.
  • AUD/NZD trades flat at NZ$1.0973 as we type. A break above Aug 18 high of NZ$1.1044 would open up the upper 3.0% Bollinger band at NZ$1.1114, followed by Aug 9 high of NZ$1.1175. Bears look for a dip through Jun 2 high of NZ$1.0881, towards the 50-DMA at NZ$1.0730.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com

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.