NZD: Asia Wrap - Can't Ignore The USD Strength
May-29 04:42
The NZD/USD had a range of 0.5925 - 0.5977 in the Asia-Pac session, going into the London open tradi...
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MNI EXCLUSIVE: MNI Discusses The Outlook For Further BoJ Hikes
Apr-29 04:41
MNI discusses the outlook for further BOJ hikes. On MNI Policy MainWire now, for more details please contact sales@marketnews.com
CNH: USD/CNH Tests Sub 7.2700, Outperforms Firmer USD Index Levels
Apr-29 04:38
USD/CNH sits a touch up from session lows. We were last near 7.2740, against earlier lows of 7.2692. Still, CNH is up close to 0.15%, while onshore spot has risen close to 0.20% and tracks near similar levels to USD/CNH. This is outperforming the stronger USD trend against the majors so far today. The BBDXY index is up around 0.20%.
- For USD/CNH technicals we are close to the 100-day EMA, while further south is the 200-day at 7.2535.
- BBG reported that a survey of exporters pointed to a greater conversion of earnings back into local currency (see this link). Also note that the holiday period kicks off this Thursday and runs through to next Monday (the Labor day holiday period). Such flows may also be more prominent near end April as well.
- In the cross asset space, equity sentiment is very steady, the CSI 300 remaining sub 3800 at this stage.
- Tomorrow, we get the PMI prints, with market expectations skewed towards weaker prints.
CANADA: NDP Leader Singh Poised To Lose Own Seat And Party Status In House
Apr-29 04:38
- New Democratic Party Leader Jagmeet Singh is running in third place in his own riding according to Elections Canada data as of 12:35am EST Tuesday.
- Data shows Singh with about 4K votes, Conservative candidate with 8.4K and Liberal Wade Chang with 9.3K votes, with 48% of polls reporting.
- NDP reduced to seven seats in preliminary polling, short of what's needed to be an official party in the House of Commons.
