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Short NZD/USD ahead of Monday's CPI - BNZ

FXStreet (Bali) - BNZ FX Strategists have implement a short NZD/USD recommendation ahead of next Monday’s Q1 CPI print.

Key Quotes

"The NZD/USD poked its head above 0.7600 early this morning and we used it as an opportunity to implement our short NZD/USD recommendation ahead of next Monday’s Q1 CPI print."

"We expect this to come in at just 0.1%y/y and likely encourage the market in its pricing of RBNZ rate cuts."

"The market is currently pricing 29bps of RBNZ cuts for the year ahead. We target a move in the NZD/USD down to 0.7200, in the first instance."

China's weak data partly due to seasonal effects - Capital Economics

Chang Liu, Economist at Capital Economics, notes that while output growth in China disappointed in Q1 (released earlier on Wednesday), part of the reason was seasonal effects which should disappear as soon as the data for April.
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Australia: Employment expected to have increased solidly - ANZ

Employment is expected to have increased solidly in March, notes the Research Team at ANZ.
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