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Firms Above 20-Day EMA As Sentiment Improves

NZD

NZD/USD prints at $0.5965/70, the pair rose ~0.7% on Thursday.

  • Lower US Tsy Yields and Oil as well as firmer US Equities saw sentiment improve on Thursday, NZD/USD had its strongest day in a month.
  • The pair breached the 20-Day EMA extending gains through the measure to sit at current levels into yesterday's close.
  • Bulls focus is on a break of Sep 22 high ($0.5989), which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6129). Bears immediate focus is on a break of the 20-Day EMA ($0.6129), this opens low from Sep 21 ($0.5896) and $0.5859 (6 Sep low).
  • The latest ANZ Consumer Confidence Index crossed a short time ago, rising 1.6% M/M in August to 86.4. This was the highest read since January 2022.
  • Cross asset wise; WTI fell 2% and 2 Year US Tsy Yields fell 8bps. S&P500 rose ~0.6% and BBDXY was ~0.4% lower.
  • The local data docket is empty for the remainder of today's session.
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