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Consolidates vs USD, AUD/NZD Highest Since February

NZD

NZD/USD prints at $0.6075/80, the pair rose ~0.1% yesterday.

  • The pair firmed off session lows as US Equities rose on Tuesday, support had come in below $0.6050 and the NZD/USD held its gain into the close.
  • Earlier in the session an offer in the EUR/USD, as the ECB said consumer inflation expectations eased significantly in April, spilled over into a wider greenback bid.
  • NZD/USD has consolidated in recent sessions, bulls target a break of $0.61 which opens the 20-Day EMA at $0.6127. Bears look to break low from 31 May at $0.5985.
  • In the wake of the RBA's 25bp hike yesterday AUD/NZD sits a touch under the $1.10 handle, and is at its highest level since mid-Feb. The cross rose ~0.7% yesterday.
  • At the latest GDT Auction Whole Milk Powder Price fell 3.0% to $3,173/MT.
  • Cross asset wise; S&P500 was 0.2% higher on Tuesday and BBDXY was little changed. 10 Year US Treasury Yields were ~2bps lower.
  • The domestic data calendar is empty on Tuesday.
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