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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 AccessSupport Near 0.6100 Still Evident, Q3 Current Account Slightly Wider
NZD/USD was volatile around the US CPI print, from highs of 0.6170 we pulled back to lows of 0.6105. We recovered back to 0.6130/35, which is where we currently track in early Wednesday trade. This is a touch higher for the Tuesday session as a whole, with the BBDXY down a 0.20%. Broadly NZD/USD remains within recent ranges.
- USD weakness was more evident against the Yen and EUR for the session, with yen holding nearing 0.50% higher for the session. NZD/JPY tracks near 89.20 currently, up slightly from Tuesday lows just under 89.00.
- US yields were volatile, recovering some of the post CPI weakness, but the back end still finished lower versus end Monday levels (10yr down nearly 3bps to 4.206%). The front end was slightly firmer, 2yr +2bps to 4.73%.
- US equities finished higher (SPX +0.46%), while aggregate commodity indices were dragged down by weaker oil prices. The energy sub index off 4.13%, the headline Bloomberg index -1.05%.
- On the data front, Q3 current account figures have just printed. The deficit slightly wider than forecast at -7.6% of GDP (-7.4% was expected). Nov food prices print later.
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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.