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The New Zealand Dollar (NZD) fell another leg last week dropping to 0.5465 (1.8300) against the Euro (EUR) straight through heavy support at 0.5540 (1.8060) registering a fresh April 2020 level. Setback this week in a thin calendar won’t be to supported, the long term bear channel formation should hold up representing a softer kiwi….
The New Zealand Dollar (NZD) remains under pressure against the British Pound (GBP) falling to a long-term low of 0.4715 (2.1220), not seen since March 2020. The GBP outperformed late in the week on better-than-expected economic data- GDP for June came in at 0.5% vs 0.2% showing the economy is growing faster than predicted. This…
The New Zealand Dollar (NZD) remains under pressure against the British Pound (GBP) falling to a long-term low of 0.4715 (2.1220), not seen since March 2020. The GBP outperformed late in the week on better-than-expected economic data- GDP for June came in at 0.5% vs 0.2% showing the economy is growing faster than predicted. This…
Last week’s moves were mostly about AUD strength and investors exiting the New Zealand Dollar (NZD), the pair travelling from 0.9310 (1.0740) to 0.9200 (1.0870) zones where it has consolidated into Tuesday. The RBNZ will keep their interest rate on hold at 5.5% this week after the RBA minutes release later today. Also on the…
Last week’s moves were mostly about AUD strength and investors exiting the New Zealand Dollar (NZD), the pair travelling from 0.9310 (1.0740) to 0.9200 (1.0870) zones where it has consolidated into Tuesday. The RBNZ will keep their interest rate on hold at 5.5% this week after the RBA minutes release later today. Also on the…
Key Points: Interest rate hold expected from the RBNZ tomorrow. Goldman Sachs expects only a 20% chance of a US recession over the next year. The Federal Reserve are expected to leave their cash rate unchanged at the September meeting with cuts predicted mid-2024. Chinese real estate company “Country Garden’s” share price crashed about 20%…
FX Update Key Points: New Zealand food prices gained 9.6% y/y to July with fruit and Veg +6.2%, meat, poultry and fish +9.3% and non-alcoholic beverages +9.1%. Grocery prices +11.9%. ANZ has revised down the farmgate milk price for the 2023/2024 season from $8.20 to $7.15. NZ Manufacturing dropped in the month of July to…
Last week’s ECB hike still has the Euro in the driver’s seat pushing to 0.5965 (1.6760) at the close of the week against the Australian Dollar. (AUD). Monday’s action has the Aussie still on the backfoot as we head into the week with price clocking 0.5965 (1.6770) a 15-week low. It’s a light week of…
Last week’s ECB hike still has the Euro in the driver’s seat pushing to 0.5965 (1.6760) at the close of the week against the Australian Dollar. (AUD). Monday’s action has the Aussie still on the backfoot as we head into the week with price clocking 0.5965 (1.6770) a 15-week low. It’s a light week of…
The British Pound (GBP) extended gains Monday back to the pre- level low of 0.5140 (1.9460) against the Australian Dollar (AUD). Its thin air all the way through to 0.4940 (2.0240) on the chart as the long-term head and shoulders pattern progresses. NAB Business Confidence prints today and Friday UK quarterly GDP. The lower highs…