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Firms Above $0.62 Handle


NZD/USD prints at $0.6205/10, the pair was ~0.6% firmer on Monday.

  • Kiwi firmed through yesterday's European session as details emerged from the anticipated Chinese politburo meeting. The politburo noted it will enact plans to resolve local government debt issues as well as increase support for the property market.
  • NZD/USD firmed above the $0.62 handle, before consolidating its gains and dealing in narrow ranges through the NY session.
  • Bulls target a break of the 200-Day EMA ($0.6227), from here they can target the high from 20 July ($0.6308). Bears target a break of yesterday's low ($0.6164) which opens the low from 29 June ($0.6051).
  • Cross asset wise; S&P500 rose ~0.4%, Bloomberg Commodity Index was ~1.4% firmer. BBDXY finished up ~0.1% and 2 Year US Tsy Yields rose ~8bps.
  • A reminder that the local data docket is empty until Friday.

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