Trial now

Auction Devolved On To Dealers Again


Falls Further


Holiday Thinned Trade


Market Holidays Limit Activity In Asia


Market Closures Subdue Proceedings


Adds To Recent Gains

KIWI: The kiwi took flight Tuesday, landing atop the G10 pile. Firmer risk
appetite kept NZD/USD buoyant through most of the day, but the rate pulled back
late doors alongside other risk assets, as a STAT report raised questions about
the credibility of the results of Moderna's latest Covid-19 vaccine trial.
NZD/USD returned below the $0.6100 mark, but still wrapped up on the front foot.
- The rate has extended that pullback into early Asia-Pac trade and last sits -7
pips at $0.6069. A drop below May 15/Apr 23 lows of $0.5921/11 would bring Apr 3
low of $0.5844 into play. Conversely, bulls look for a recoil above May 11 high
of $0.6156, which would return focus to Apr 30 high of $0.6176.
- The main opposition National Party leader Simon Bridges confirmed this morning
that him and his deputy will be challenged for the leadership, possibly as soon
as next week, with Stuff sources noting that the opposing ticket will feature
MPs Todd Muller/Nikki Kaye. This comes after a spectacular slump in support for
Mr Bridges & his party, indicated by a poll released Monday.
- New Zealand reports FPI today, with credit card spending & retail sales coming
up on Thursday & Friday respectively.
MNI London Bureau | +44 203-865-3806 |