Free Trial

Trimming Wednesday's Losses

NZD

NZD/USD prints at $0.6035/40, the pair is ~0.3% firmer this morning.

  • Kiwi has ticked higher through Wednesdays dealing, albeit in a narrow range, trimming some of yesterday's losses. Gains have extended a touch after the PBOCs stronger than estimated Yuan fix.
  • Bulls immediate focus is on sustaining a break of the 200-Day EMA ($0.6262) targeting 21 Nov high ($0.6086). A break through here opens $0.6168, 61.8% retracement of Jul-Oct bear leg and $0.62 handle. On the downside bears focus on a break of the $0.60 handle to target the 20-Day EMA ($0.5964).
  • AUD/NZD is a touch lower however the cross remains well within the $1.08/09 range observed since early November.
  • Cross asset flows are muted as liquidity is impacted by holidays in the US and Japan today. BBDXY is ~0.1% lower and US Tsy futures are higher. WTI is down ~1.5%.
  • Looking ahead, due early in tomorrow's session is Q3 Retail Sales ex Inflation. A fall of 0.7% Q/Q is expected.

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.