Published at 00:32 (GMT) 23 Oct
NZ Q3 inflation at 1.0%y/y, 0.3%q/q. With the annual rate sitting on the lower end of 1-3% RBNZ target. Further fall below will put pressure on RBNZ to pause longer. Or even sound less hawkish - as inflation, despite house prices - seen undershooting target. Eye any risks of lower than expected inflation - something ECB is grappling, and BoE as well.
NZD/USD under pressure, now at 1-week lows of 0.7851, down from 0.7920-30. Eye stoploss below 0.7845-50. Then key 0.7800. Will open door for the 15-month lows of 0.7709 - the 0.7700-20 support zone. Good time for RBNZ intervention? As fresh NZD sales seen, and with weak longs bailing out.
NZD/JPY at 1-week lows of 84.15-20, down from 84.70-80. Eye break of 84.00. With Cross/JPY seen weighed by lower stocks. WL
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.