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Earses Earlier Loss, Underperforming AUD

NZD

NZD/USD prints $0.6400, little changed from Friday's closing levels.

  • The pair has had a ~0.6% trough to peak rally this morning as it unwound its early fall. USD/CNH has broken below 7.00 for the first time since Sept spilling over into wider USD weakness.
  • NZD is under performing against AUD, AUD/NZD has continued its recovery from Friday's lows when it briefly printed below the NZ$1.06 handle for the first time since January. The pair last printed NZ$1.0645, up ~0.25% today.
  • ANZ Commodity Export Prices fell 3.9% MoM, the prior reading was -3.4%. the index is now 11.5% lower in y/y terms. This is the weakest y/y pace since mid 2016.

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