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Thread: NZD USD

  1. #191
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    NZD/USD slides lower as focus remains on China.

    The New Zealand dollar slid lower against its U.S counterpart on Tuesday, as ongoing concern over volatility in Chinese markets continued to weigh on sentiment.

    NZD/USD hit 0.6534 during late Asian trade, the session low, the pair subsequently consolidated at 0.6538, shedding 0.29%.

    The pair was likely to find the support at 0.6506 Monday low and a one-and-a-half month trough and resistance at 0.6685 the high of January 8.

    Investors remained cautions after china’s central bank moved once again to support the yuan, but losses in Chinese shares overnight fueled further concerns over the outlook for the world’s second largest economy.

    The yuan central parity rate against the U.S dollar was set at 6.5628 Tuesday, slightly weaker than Monday 6.5626 level set by the people’s Bank of China.

    On Monday china’s central bank attempted to smooth markets by setting the daily fix for the yuan against the dollar dramatically higher in comparison with its level at last week close.

    China is New Zealand’s second biggest export partner.

    The Kiwi was higher against Australian dollar that is 1.0645.




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  2. #192
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    NZD/USD holds steady in late trade.


    The New Zealand dollar held steady against U.S counterpart on Monday, after china’s central bank set a firmer guidance rate for the yuan, easing concerns over the risk of a drop in the currency.

    New Zealand dollar hit 0.6480 during Asian trade the session high, the pair subsequently consolidated at 0.6464.

    The People’s Bank of china firmed the yuan’s midpoint against the U.S dollar for the first time in nine trading days on Monday, after it’s allowed the biggest fall in the yuan in five months on Thursday sending global stock markets tumbling.

    In additional china’s central bank said on Monday that it will start implementing a reserve requirement ratio on offshore bank’s domestic’s deposits, in another move to stem speculation in the yuan.

    Meanwhile the dollar remained under pressure after data on Friday showed that U.S retail sales unexpectedly fell in December while U.S industrial production also fell last month down for the third consecutive month.

    Investor also continue to focus on the oil market as prices remained under 30$ a barrel since Friday, pressured lower by expectations that Iran will resume exports as soon as international sanctions are lifted, amid a global supply glut.





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  3. #193
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    New Zealand kiwi holds weaker after CPI Data


    The Kiwi held weaker in Asia after a slower pace than expected consumer price data widened the scope for a lower official cash rate (OCR) in the near future.
    NZD/USD traded at 0.7083, down 0.51% after the CPI data.
    New Zealand said second quarter CPI came in at 0.4% for the quarter-on-quarter and year-on-year figures. below the 0.5% gain seen for both periods. The next rate review by the RBNZ is Aug. 11, though the central bank policymakers may be concerned by the continued rise in house-related inflation and hold steady at 2.25%.
    The RBNZ will release an updated economic assessment on Thursday and the market is expected to raise bets for a 25 basis-point cut in August from an already elevated 70% chance priced in prior to the data.

  4. #194
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    NZD/USD drops for the consecutive fourth day.


    NZD/USD is about to post the lowest close since the beginning of July and the fourth daily decline in a row. The pair recovered ground during the European session but it was unable to erase all losses.


    Earlier on Monday, Q2 inflation data from New Zealand, showed lower-than-expected numbers, increasing speculations about a rate cut from the Reserve Bank of New Zealand and weakened the kiwi in the market.


    The pair dropped to 0.7067 and then bounced to the upside. The recovery from the lows found resistance at 0.7120 and it was trading at 0.7105/10, 220 pips below last week lows.

  5. #195
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    NZD/USD drops for the consecutive fifth day.

    The New Zealand dollar hit a 3-week trough, as markets expect Reserve Bank of New Zealand could ease monetary policy at its August 11 meeting.

    The major started declining after the central bank imposed new requirements on a hot housing market, triggering speculations for an interest rate cut.

    The Kiwi trades 1.1 percent lower at 0.7037, having touched an early 3-week low of 0.7010. New Zealand trader’s now await Fonterra Global Dairy Trade auction, for further momentum on the major.

    Immediate support is seen at 0.7000, break below could take it to 0.6969. On the higher side, resistance is located at 0.7115 (Session High).

  6. #196
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    Kiwi move higher ahead of FOMC meeting

    The New Zealand and Australian dollars were higher against their U.S. counterpart on Tuesday, after the release of positive trade data from New Zealand and as the greenback broadly weakened ahead of the Federal Reserve’s policy statement due on Wednesday.

    NZD/USD climbed 0.86% to 0.7055, the highest since July 20.
    Statistics New Zealand said the trade surplus narrowed to NZ$127 million in June from NZ$358 million the previous month, compared to expectations for a trade surplus of NZ$125 million.
    The report showed that New Zealand’s exports rose to $4.26 billion last month, while imports fell to $4.13 billion.

  7. #197
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  8. #198
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    New Zealand's Kiwi weaker ahead of Q2 unemployment.


    The Kiwi was down slightly in early Asia on Wednesday ahead of jobs and producer prices data with Australia later to report its wage price index.


    In New Zealand, second quarter employment is due with a 0.6% gain seen quarter-on-quarter for an unemployment rate of 5.3%, an expected tick down from 5.7% previously.


    Producer prices are also slated with a 0.5% gain seen quarter-on-quarter for input, and an 0.2% rise seen for output.
    Ahead of the data, NZD/USD traded at 0.7278, down 0.08%.

  9. #199
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    NZ dollars moved from 1-month lows.


    The New Zealand dollar NZD=D4 stood at $0.7114, rising from a one-month low of $0.7070 touched on Monday.


    New Zealand was still reeling from the impact of several powerful earthquakes, with transport links in the south island most heavily hit.


    While the damage is still being assessed, analysts estimate rebuilding work could cost NZ$2.5 billion ($1.78 billion).


    "A lingering effect from Monday's quake is likely to be higher inflation," said Nick Tuffley, ASB Chief Economist.


    "Transport-associated costs look set to rise. Further, reconstruction work will add capacity pressures to an already-constrained construction sector, also impacting on inflation," Tuffley added.


    At the margin, the quakes could narrow the odds of another rate cut by the Reserve Bank of New Zealand (RBNZ) next year if the economic disruption is greater than anticipated, Tuffley said.


    The RBNZ cut interest rates this month to restrain a rising currency and push inflation higher even as the economy grew an annual 3.6 percent and the jobless rate dropped to near eight-year lows. (Full Story)


    New Zealand government bonds NZTSY= eased, sending yields about 2 basis higher at the longer end of the curve.

  10. #200
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    New Zealand's Kiwi weaker ahead of Q2 unemployment.


    The Kiwi was down slightly in early Asia on Wednesday ahead of jobs and producer prices data with Australia later to report its wage price index.


    In New Zealand, second quarter employment is due with a 0.6% gain seen quarter-on-quarter for an unemployment rate of 5.3%, an expected tick down from 5.7% previously.


    Producer prices are also slated with a 0.5% gain seen quarter-on-quarter for input, and an 0.2% rise seen for output.
    Ahead of the data, NZD/USD traded at 0.7278, down 0.08%.

 

 
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