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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 AccessTuesday saw NZD/USD edge higher in Asia, but...>
KIWI: Tuesday saw NZD/USD edge higher in Asia, but the pair turned its tail as
risk switch was turned to off. A strong U.S. retail sales print helped inspire a
recovery attempt, but the rate dipped again into the WMR fix after Beijing
shuttered all of its schools over a continued increase in new local coronavirus
cases. Geopolitical developments in China/India & the Korean peninsula also
worked against any recovery in sentiment.
- Just in case you missed it, New Zealand is no longer free from coronavirus,
after two women left a quarantine facility to attend a funeral.
- Westpac hiked its 2020/21 milk price forecast by NZ$0.20, noting that the
impact of Covid-19 on dairy prices has been less severe than exp.
- NZ Q1 current a/c balance, released this morning, roughly matched projections.
- NZD/USD sits at $0.6446, a touch lower on the day. A fall through Jun 15 low
of $0.6381 is needed to expose the 200-DMA/23.6% retracement of the Mar 19 - Jun
10 bull mkt at $0.6322/21. A move through yesterday's peak at $0.6507 would
bring Jun 10 high of $0.6584 into play.
- As a reminder, New Zealand reports Q1 GDP tomorrow.
To read the full story
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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.