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Consolidation Continues

NZD

NZD/USD prints at $0.6370/75, little changed in today's trading.

  • The recent consolidation in NZD/USD continues as the pair was unable to follow through as spillover from a bid in the AUD post stronger than expected inflation and retail sales data across the Tasman saw the pair firm in the immediate aftermath of the print.
  • Resistance was seen above $0.6380, and the pair remains in a $0.6360/80 range today.
  • AUD/NZD prints just above session lows as it has unwound a bid seen post Australian CPI as the cross continues to consolidate in a bull channel. NZD/JPY is marginally firmer, last printing at ¥83.30.
  • Cross asset flows are mixed, both the BBDXY and US Equity futures are little changed from yesterday's closing levels. US 10 Year Treasury Yields are ~3bps lower.
  • With a light docket for the remainder of the session, wider swings in risk appetite will be the main driver for NZD.
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