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Gains Extend Through Asian Session

NZD

NZD/USD prints at $0.5885/90, the pair is up ~0.7% and is the strongest performer in the G-10 space.

  • Kiwi has firmed as risk-on flows are evident in Asia today as participants digest yesterday's FOMC rate hold and Powell press conference.
  • NZD/USD has breached the 20-Day EMA ($0.5873), bulls now target the 50-Day EMA ($0.5923) and the 200-Day EMA ($0.6076).
  • AUD/NZD is a touch lower however the pair continues to consolidate above $1.09.
  • HSBC has updated their RBNZ forecast, they now see the bank holding the OCR steady at 5.5% until Q4 2024.
  • Cross asset wise BBDXY is down ~0.3% and US Tsy Yields are ~2bps lower across the curve. The Hang Seng is up ~1% in early trade and e-minis are up ~0.1%.
  • A reminder that the local data docket is empty today and tomorrow.
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