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Highest Level Since Early April

NZD

NZD/USD prints at $0.6340/45, the pair rose ~0.8% yesterday.

  • The kiwi firmed through Monday's session printing its highest level since 6 April as rising commodity prices boosted the NZD.
  • NZD/USD marginally pared losses from session highs as US Treasury Yields rose and the Feds quarterly loans officers survey showed banks tightened lending standards in Q1.
  • Bulls now target a break above high from 5 April ($0.6379), which opens year to date highs at $0.6538. Bears focus on the 200-Day EMA ($0.6248).
  • AUD/NZD sits a touch below $1.07, the pair continues to see around the handle in a narrow range.
  • Cross asset wise; Bloomberg Commodity Index was 0.7% firmer. S&P500 was little changed, BBDXY was a touch firmer. 2 Year US Treasury Yields rose 9bps.
  • On the wires this morning we have Apr Card Spending, there is no estimate the prior read was 3.1% M/M.
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