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Continues To Trim Post CPI Gains

NZD

NZD/USD print at $0.5955/60, the pair is ~0.2% lower on Friday.

  • Kiwi has continued to trim its post-US CPI gains having breached the $0.60 handle yesterday. NZD is the weakest performer in the G-10 space this morning and has ticked lower alongside regional equities. Alibaba is pressured, down ~8%, after it called off a spinoff of its giant cloud business.
  • On the downside bears look to target the 20-Day EMA ($0.5926), which opens the low from 14 Nov at $0.5864. Bulls look to break the $0.60 handle to target the 200-Day EMA ($0.6063).
  • AUD/NZD has marginally extended recent gains and is up ~0.1% at $1.0840/45 this morning. On the wires this morning we had Q3 PPI, the Output component rose to 0.8% Q/Q from 0.2% Q/Q. The Input component also ticked higher to 1.2% Q/Q from -0.2% Q/Q.
  • The local docket is empty for the remainder of the session leaving wider swings in risk sentiment as the main driver in NZD.

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