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Firmer, 200-Day EMA In View For Bulls

NZD

NZD/USD prints at $0.6255/60 ~0.5% firmer in today's trading.

  • The pair has firmed through today's session as rising US equity futures boost risk appetite. Pressure on the USD has continued, the greenback had pared some its losses in late NY trade before falling in the Asian session. BBDXY is down ~0.3%.
  • Bulls look to target 200-Day EMA ($0.6272) which has presented as resistance in recent dealing, a break through here opens 2023 highs at $0.6538.
  • AUD/NZD is little changed, the cross prints at $1.0740/50.
  • RBNZ Chief Economist Conway spoke this morning, he noted that damaging effects of high inflation and that inflation remains too high in NZ. He also said the RBNZ will need to hike more to return inflation to target.
  • Looking ahead, the domestic data calendar is empty until next Thursday when Building Permits and ANZ Business Survey crosses.
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