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Currency

ANZ NZ Morning Brief

OUTLOOK CURRENCY: With little top tier data expected locally, we're eying offshore developments; though there is little on the data front in the Northern Hemisphere tonight meaning recent tight ranges look set to persist.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: All eyes are on tomorrow's FOMC decision. We think the Fed could surprise the market by being a little less dovish than expected. Such an outturn would give the USD a boost. Locally, this morning's Q1 balance of payments data is expected to be NZD supportive.

Yield attraction will continue to support the Kiwi

By Garry Dean (Sales Trader, CMC Markets New Zealand)

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Tomorrow night's Fonterra auction will be the key risk event for the NZD over the coming 24 hours. For the AUD, watch for a mildly dovish slant in the minutes from the RBA's June policy meeting. CPI and housing activity data are in focus for the USD tonight.

BNZ Daily Markets Wrap and Strategy

NZD The NZD cooled off slightly on Friday, paring its post-RBNZ gains. The NZD/USD fell 0.3% to 0.8670. The dip lower was in line with the AUD and much of the emerging market set, likely a reflection of cautious risk sentiment given developments in Iraq (see Majors).

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD sits 1.6% higher than 24-hours ago, at 0.8680 this morning. It was the best performing currency by a large margin, after the RBNZ’s meeting yesterday.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: A quieter end to the week expected with the key data - the Chinese retail sales, industrial production, fixed asset investment - not due until later in the NZ session. RATES: Lower offshore rates should dampen any residual squeeze higher.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD sits a little higher, at 0.8520, this morning.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD sits only fractionally lower this morning, at 0.8490, having touched intra-night around 0.8530.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: A number of key Australian and New Zealand macro releases today may generate some action in the AUD and NZD. All eyes will be on the UK industrial production report to drive moves in sterling.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: With the Australian market out on holiday and little data to be released in the domestic and major offshore markets, action may be thin today beyond the opening reaction to the weekend's Chinese trade figures.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Today's Work Put in Place survey could be the support NZD/USD needs after a further sharp fall in GDT dairy prices overnight. Australian GDP data is likely to have only a limited impact on AUD/USD given the data is largely historical in nature.

Break below 0.8500 'significant for Kiwi'

By Garry Dean (Sales Trader, CMC Markets New Zealand)

BNZ Daily Markets Wrap and Strategy

NZD The NZD continues to drift lower, with NZD/USD dipping its toes below the 0.8450 mark early this morning. Broader USD strength has the NZD 0.5% lower from yesterday.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: NZD/USD could remain capped with April building permits forecast to retrace the strong 8.3% m/m rise in March. Markets will watch US PCE data for signs the rise inflation is broadening - likely USD supportive. RATES: Expect Kiwi rates to open largely unchanged.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD was the weakest performing currency over the past 24-hours. It sits at 0.8490 this morning.

ANZ NZ Morning Brief

OUTLOOK

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD sits at a very similar level to yesterday morning, just below 0.8550 currently.

ANZ NZ Morning Brief

OUTLOOK

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Expect another quiet range bound day for NZD, with little data to drive markets in the next 24 hours. RATES: With the London market closed overnight and little movement in Australian bond futures, local rates are expected to open unchanged. REVIEW

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD is just 10 points away from its opening level yesterday morning, effectively unchanged at 0.8550. Price action against the crosses was similarly lacklustre. The US and the UK were on holiday, and markets simply took it easy. The NZD was no exception.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The EUR will likely remain under pressure after the far right make solid gains in the European elections. The US is out for Memorial Day and the UK out for May Day, so trading should be light.

BNZ Daily Markets Wrap and Strategy

NZD The NZD/USD sits at a similar level this morning, around 0.8560.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: We expect relative stability in currency markets today. NZD should continue to find demand on dips below 0.8550, and we would expect EUR to remain under pressure after German IFO confidence.

BNZ Daily Markets Wrap and Strategy

NZD The NZD has been amongst the weakest performing currencies over the past 24-hours, sitting at 0.8560 this morning.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: Global manufacturing activity updates from China, Europe, and the US will be the main catalyst for direction, with NZ Job Ads, Consumer Confidence and 2yr inflation expectations likely to maintain NZD support.

Kiwi strength poses problems for RBNZ

By Garry Dean (Sales Trader, CMC Markets New Zealand)

BNZ Daily Markets Wrap and Strategy

NZD The NZD modestly underperformed on Friday night, to end the week at 0.8630.

BNZ Daily Markets Wrap and Strategy

NZD The NZD was the strongest performing major currency overnight, gaining 0.4% against the USD to 0.8670.

ANZ NZ Morning Brief

OUTLOOK CURRENCY: The NZ Budget should highlight the strong domestic story for NZD, while US CPI, Regional Fed surveys and price action in the US bond market will drive USD.

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