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
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