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Firms As Equities Boost Risk Sentiment


NZD/USD prints $0.6360, ~0.9% firmer in yesterday's trading.

  • The pair rose through yesterday's session as firmer global equities supported risk sentiment.
  • Resistance was seen ahead of the 20-Day EMA ($0.6380) and gains were marginally pared to current levels.
  • Cross asset flows showed a risk-on tone, S&P500 was up 1.2% and DXY was ~0.3% softer. US 10 Year Treasury Yields fell ~3bps.
  • Technically the pair continues to consolidate. Bears first look to break February lows at $0.6270. Bulls look for a break of $0.64.
  • A national state of emergency was declared this morning, for only the third time in history, as Cyclone Gabrielle hit the North Island. The full impact of the Cyclone is still unclear at this stage.
  • On the wires today we have Q1 2-Year Inflation Expectations, there is no estimate and the prior read was 3.62%. We also have Jan Food Prices, prior print was 1.1%, and Jan REINZ House Sales, prior was -39.0%.

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