Daily Analysis: 17 Apr 2019

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NZD

Fundamental Analysis

(17th Apr): The NZD drops sharply after CPI rose 0.1% in Q1, below expectations of 0.3% qoq. Annually, CPI slowed to 1.5% yoy, down from 1.9% yoy and missed expectations of 1.7% yoy. The downside surprise is giving  RBNZ Governor Adrian Orr an even worse picture and solidifies the imminent need for policy easing, raising the chances of RBNZ rate cut at the next meeting.New Zealand’s 10 year yield dropped as much as 9bps.

 

China data came in better than expected helped NZD trimm some losses. Sentiments for NZD remain mildly bullish just because of China’s data. However, its performance will still fall short in comparison to AUD.

 

 

(16th Apr): The NZD weaken this morning, tracking the AUD, before trimming loses to be little changed. The NZD recovered from the day’s low after RBNZ Governor Adrian Orr said that the possibilities to downbeat data have already been factored into the bank’s dovish bias. Kiwi is also currently around a ‘happy space’ and monetary policy easing bias remains in place for now. CPI results remains the focus for now with a forecast of 0.3%, up from 0.1% from the previous quarter.

 

China’s strengthening economy also helps push the NZD up.

 

 

(15th Apr) : This week will see more releases of domestic data including Tuesday’s GDT price index and CPI. The RBNZ governor mentioned last week that the domestic economy remains strong and this could indicate a better-than-expected data print this week. Furthermore, the boosted risk sentiment could send NZD higher from their recent low.

 

 

 

Technical Analysis

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USD

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Fundamental Analysis

(17th Apr): The USD fell against emerging-market currencies after upbeat Chinese data signals that the world’s second largest economy could be stabilizing. As the market turns more risk on, investor turn away from safe heavens and does causing downward … [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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