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Firms As Greenback Pressured On Weak US Data

NZD

NZD/USD prints at $0.6092/97, the pair was ~1% firmer yesterday.

  • The pair firmed through yesterday's session extending gains as US Jobless Claims rose by more than expected. US Treasury Yields fell, weighing on the greenback and US Equities were higher.
  • NZD/USD was unable to break the $0.61 handle and sits at the top of the week's range.
  • Bulls focus is now on a break of $0.61, the 20-Day EMA comes in at $0.6118. On the downside support is at $0.5985 the low from May 31.
  • AUD/NZD is holding above $1.10, however ranges have been narrow with little follow through in moves in recent sessions.
  • Cross asset wise; S&P500 enters a bull market, gaining 20% since its October low, and was up ~0.6% yesterday. BBDXY fell 0.6% and 2 Year US Treasury Yields fell 4bps.
  • The domestic data calendar is empty today.
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