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Firmer On Monday

NZD

NZD/USD prints at $0.6090/95, the pair is ~0.3% firmer this morning.

  • Kiwi has ticked higher this morning as an offer in USD/JPY spills over into wider pressure on the USD and US Tsys tick away from session lows, BBDXY has breached Friday's lows.
  • NZD/USD sits above Friday's highs for now and bulls immediate focus is on the $0.61 handle. A break through here opens $0.6168, 61.8% retracement of Jul-Oct bear leg and $0.62 handle. On the downside bears focus on a break of the $0.60 handle to target the 20-Day EMA ($0.5986).
  • AUD/NZD is marginally lower however we remain well within the $1.08/09 range seen for the most part of November.
  • PM Luxon noted that he is concerned at the risk of recent fiscal deterioration.
  • A reminder that the local docket is empty until the RBNZ decision on Wednesday.

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