Free Trial

The flightless bird opened in Asia at the......>

KIWI
KIWI: The flightless bird opened in Asia at the upper side of the $0.6932 to
$0.7028 range witnessed yesterday, where weaker than expected US inflation data
and a FOMC that was deemed on the dovish side, placed the greenback on the
defensive. There is no domestic data to influence direction, but cross flow
(aussie-kiwi) is likely following the Aussie jobs data. Interestingly, the rally
has stopped just shy of decent resistance, $0.7030/37 marks the 38.2% fib
retracement on the $0.7433 to $0.6781 decline and Oct20 high, a break would
target a move to $0.7107 (50% fib on the same move), while hourly support is
seen around $0.6980. Kiwi was last at $0.7024.

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.