NZD: Marginally Firmer, Ranges Narrow In Asia
Jul-04 02:16
NZD/USD prints at $0.6155/60, the pair is ~0.1% firmer today.
- Kiwi firmed after another strong Yuan fix from the PBOC before paring gains to sit at current levels. Ranges have been narrow with ~20 pip range persisting.
- Yesterday's highs remain intact thus far. General liquidity remains hampered by the Independence Day holiday.
- AUD/NZD is little changed dealing in a narrow range see-sawing around the 200-Day EMA.
- Cross asset flows are muted, BBDXY is a touch lower as are e-minis. US Tsy futures are little changed.
- Trans-tasman flows will come to the fore with the RBA's latest monetary policy decision this afternoon which is the highlight of today's Asian session.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: President Biden To Deliver Remarks On Debt Limit Legislation
Jun-02 22:58
US President Joe Biden is shortly due to deliver remarks on legislation passed the United States Senate yesterday to suspend the federal government debt ceiling until 2025.
- Livestream of Biden's remarks: https://www.whitehouse.gov/live/
- For more analysis on the debt ceiling bill see today's edition of our MNI US Daily Brief.
- Biden said in a statement yesterday: "Tonight, Senators from both parties voted to protect the hard-earned economic progress we have made and prevent a first-ever default by the United States. Together, they demonstrated once more that America is a nation that pays its bills and meets its obligations, and always will be... No one gets everything they want in a negotiation, but make no mistake: this bipartisan agreement is a big win for our economy and the American people."
MNI: TREASURY GENERAL ACCOUNT $22.9B JUNE 1 VS $48.5B PREV DAY
Jun-02 20:00
- MNI: TREASURY GENERAL ACCOUNT $22.9B JUNE 1 VS $48.5B PREV DAY
USDCAD TECHS: Reversal Lower Extends
Jun-02 20:00
- RES 4: 1.3730 76.4% retracement of the Mar 10 - Apr 14 low
- RES 3: 1.3695 High Mar 28
- RES 2: 1.3668 High Apr 28 and key resistance
- RES 1: 1.3533 20-day EMA
- PRICE: 1.3438 @ 16:14 BST Jun 2
- SUP 1: 1.3407/04 Low Jun 02 / May 16
- SUP 2: 1.3363 Low May 11
- SUP 3: 1.3315 Low May 8
- SUP 4: 1.3302 Low Apr 14 and a key near-term support
USDCAD traded lower Thursday as it extended the reversal from the May 26 high of 1.3655. The pair is weaker again today. The move lower is considered corrective, however, the impulsive nature of the sell-off signals scope for a deeper pullback. The next support to watch is 1.3404, the May 16 low. A break of this level would expose 1.3315, the May 8 low. On the upside, initial resistance is at 1.3533, the 20-day EMA.
