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Consolidates Above 0.6200, Lower US Yields, Higher Equities Aid Sentiment

NZD

NZD/USD sits near 0.6250 in early Tuesday dealings, close to Monday session highs, but remaining within recent ranges. Monday dips to 0.6210/15 were supported and the pair gain close to 0.15% for the session. broader USD sentiment was slightly softer, with the BBDXY off 0.18%.

  • The combination of a drift lower in US yields (although the 10yr closed above 4.0%), along with better global equity market sentiment (SPX +1.41%) appeared to be the main USD headwinds through Monday trade.
  • For NZD/USD we were middle of the pack from a G10 standpoint, with only NOK falling against the USD.
  • Technically, NZD is back above its 20-day EMA (0.6245), but the pair hasn't been able to meaningfully break away from this level in recent sessions.
  • The local data calendar, but we do have some Australian data, with retail sales the highlight, so be mindful of spill over.
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