NZ Dollar Weakens Amid Rising Risk Aversion, PM Ardern's Housing Curbs
2017年10月31日 - 12:15PM
RTTF2
The New Zealand dollar slipped against its major opponents in
the Asian session on Tuesday, weighed by soft Chinese PMI data and
New Zealand Prime Minister Jacinda Ardern's announcement of a ban
on foreign buyers from purchasing existing homes.
Data from the National Bureau of Statistics showed that Chinese
manufacturing Purchasing Managers' Index fell to a 3-month low of
51.6 in October from 52.4 in September. The expected score was
52.0.
NZ government is determined to end foreign buying of existing
houses by introducing an amendment to the Overseas Investment Act
to classify residential housing as 'sensitive,' PM Ardern said at a
post-cabinet press conference.
Ardern said the government is planning to introduce the
legislation by Christmas and passed in the new year.
The Bank of Japan held its monetary policy unchanged, as widely
expected.
The BoJ decided by an 8-1 majority vote to maintain interest
rate at -0.1 percent and the 10-year yield on Japanese government
bonds at zero percent.
Investors await the Fed meeting beginning later in the day for
more clues on the possible trajectory of monetary policy.
The kiwi weakened against its major rivals on Monday, with the
exception of the greenback.
The kiwi dropped to 1.1220 against the aussie and held steady
thereafter. The kiwi is seen finding support around the 1.14
region.
The kiwi slipped to a 4-day low of 1.7016 against the euro,
compared to 1.6942 hit late New York Monday. Continuation of the
kiwi's downtrend may see it challenging support around the 1.72
mark.
The kiwi that closed Monday's trading at 0.6876 against the
greenback slipped to 0.6838. If the kiwi slides further, 0.67 is
possibly seen as its next support level.
The NZ currency fell to 77.41 against the yen, a level unseen
since May 22. On the downside, 76.00 is likely seen as its next
support level.
Looking ahead, Eurozone inflation for October, advanced GDP data
for the third quarter and jobless rate for September are set for
release in the European session.
In the New York session, Canada GDP data for August and
industrial product price index for September, as well as
S&P/Case-Shiller home price index for August and U.S. consumer
confidence for October are due.
At 3:30 am ET, the Bank of Canada Governor Stephen Poloz will
testify along with Senior Deputy Governor Carolyn Wilkins before
the House of Commons Standing Committee on Finance, in Ottawa.
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