FxWirePro: Kiwi gains against major peers on robust CPI data
AUD/NZD is currently trading around 1.0655 marks. Pair made intraday high at 1.0701 and low at 1.0621 marks. Intraday bias remains bearish till the time pair holds immediate resistance at 1.0751 marks. A sustained close …
Pair made intraday high at 1.0701 and low at 1.0621 marks.
Intraday bias remains bearish till the time pair holds immediate resistance at 1.0751 marks.
A sustained close above 1.0751 will drag the parity higher towards key resistances at 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, a consistent break below 1.0618 will take the parity down towards key supports around 1.0509, 1.0472, 1.0333, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
New Zealand’s Q3 consumer price index +0.2 pct vs previous qtr (Reuter’s poll 0.0 pct).
New Zealand’s Q3 consumer price index +0.2 pct vs year ago (Reuter’s poll +0.1 pct).
RBA also released monetary policy meeting minutes.
RBA October Minutes: Judged holding rates steady "at this meeting" consistent with inflation, growth targets.
RBA October Minutes: Board noted Q3 CPI, updated economic forecasts would be available at next meeting.
RBA October Minutes: An appreciating A$ could complicate economic rebalancing.
RBA October Minutes: Rising commodity prices likely lifted terms of trade in Q3.
