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

NZD

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.
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