Free Trial

The release of NZ NZIER quarterly biz..........>

KIWI
KIWI: The release of NZ NZIER quarterly biz. opinions survey dragged kiwi lower
across the G10 currency board at Asia open. The results of the survey were
rather downbeat, with the headline index falling to -29 from -17 and metrics
suggesting NZ GDP growth will be below 2% in 1H2019. NZD/USD slid through the
$0.6800 mark and last trades at $0.6789, 17 pips worse off. 
- NZD/USD finished virtually unchanged yesterday, even as risk sentiment was
buoyant through the day.
- Worth noting NZ PM Ardern met with Chinese President Xi and Premier Li. New
Zealand and China signed off on memorandums of understanding re: cooperation in
several sectors, including agriculture, research, and financial matters.
- Bears look for a break below $0.6775, which limited losses today, as well as
last Thursday and Friday. Below here opens the 200-DMA at $0.6725. Conversely,
bulls look for a jump above the $0.6814-$0.6832 region, which hosts the 100-DMA,
50-DMA & 21-DMA.
- NZ focus this week turns to NZ QV house price index, as well as Chinese Caixin
services & composite PMIs due Weds.

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.