Free Trial

Firms Off 6 Week Low, AUD/NZD Below 20-Day EMA


NZD/USD prints at $0.6130/35, the pair is ~0.3% firmer today.

  • The pair has firmed through today's Asian session after printing a 6 week low yesterday, higher US Equity futures have aided a recovery in NZD/USD.
  • Bulls focus on a break of the 20-Day EMA ($0.6190) to reverse the downtrend.
  • AUD/NZD is ~0.2% lower today, the cross is now below the 20-Day EMA ($1.0797) as bears consolidate after breaking below $1.08 on Monday.
  • April's ANZ Business Survey showed elevated but moderating inflation pressure. Business Confidence was down a touch to -43.8 from -43.4 and the Activity Outlook rose to -7.6 from -8.5.
  • Cross asset wise; e-minis are up ~0.2% and NASDAQ futures are up ~0.5%. BBDXY is ~0.1% lower and 2 Year US Treasury Yields are 2bps lower.
  • On the wires early tomorrow we have April ANZ Consumer Confidence, there is no estimate for the print and the prior read was 77.7.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.