October 09, 2023 21:15 GMT
Firmer On Monday, Data Docket Empty Today
NZD/USD prints at $0.6015/20, the pair rose ~0.5% on Monday.
- Kiwi firmed alongside US Equities in the NY session after Fedpseak from VC Jefferson, who noted the Fed are in a position to proceed carefully after the recent rise in yields, and from Dallas Fed President Logan who noted that recent rise in long-term US yields may mean less need for the central bank to tighten.
- NZD/USD rose ~1.1% from trough to peak and closed at its highest level since early August.
- Bulls look to break the high from 29 September, this opens the 200-Day EMA ($0.6117) and the high from 1 Aug ($0.6217). Despite the impressive rally yesterday we remain in a downtrend, bears look to breach the 20-Day EMA ($0.5959) to target the YTD low ($0.5859) and $0.5728 a Fibonacci projection.
- AUD/NZD printed its lowest level since late May yesterday before paring losses to sit at marginally lower on the day at $1.0645/50.
- Cross asset wise; Oil held onto its early gains amid the Hamas/Israel conflict, WTI finished ~4% higher. S&P500 rose ~0.6%, 10-Yr US Tsy Futures rose ~1%. BBDXY fell ~0.1%.
- The local docket is empty today.