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Extends Thursdays Gains In Early Dealing

NZD

NZD/USD prints at $0.5980/85, the pair is ~0.4% firmer this morning.

  • Kiwi has extended the moves seen in yesterday's trade, moving higher this morning and is now a touch below the Sep 22 high ($0.5989). A break through here opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6129).
  • AUD/NZD is ~0.2% lower, however the cross remains well within recent ranges.
  • ASB Bank noted this morning that they see the RBNZ holding the OCR at 5.5% until early 2025, they had previously forecasted a rate cut in August 2024.
  • Cross asset wise the Hang Seng is firmer up ~1%, BBDXY is ~0.1% lower.
  • A thin local docket for the remainder of todays session leaves wider swings in risk sentiment as the main driver in NZD.
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