March 14, 2023 21:15 GMT
Consolidating Gains, BoP on Tap
NZD/USD prints $0.6230/35, the pair was ~0.3% firmer in yesterday's trading.
- The pair consolidated gains yesterday, there was brief pressure seen as US CPI printed above expectations, however losses were pared in a volatile trade.
- A narrow $0.6220/40 range was observed for the remainder of the session with little follow through on moves.
- Bulls look to break the 200-day EMA at $0.6277. Bears first look to break $0.62 to regain the upper hand.
- AUD/NZD was unable to sustain a break below $1.07, support was seen a number of times through Tuesday's session below the handle. The cross now sits at $1.0720/30.
- Cross asset wise; concerns over the US banking sector abated somewhat US 2-Year Treasury Yield rose 27bps and S&P500 rose 1.7%. DXY was little changed.
- Q4 Balance of Payments is on the wires this morning. THe Bloomberg Survey looks for a deficit of $7.675bn.