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Highest Since Early Feb

NZD

NZD/USD prints at $0.6385/90, the pair rose ~1.5% yesterday.

  • The pair rose to its highest level since Feb 3 as an extension of the post-CPI USD sell off was seen on Thursday. US PPI printed its lowest level since 2020.
  • Kiwi firmed through the session, with resistance coming in ahead of the $0.64 handle.
  • Bulls now target a break of $0.64 which opens the high from Feb 3 at $0.6787. Bears first look to break yesterday's low at $0.6290.
  • AUD/NZD continues to consolidate in a narrow range below $1.08 handle.
  • Cross asset wise; DXY fell ~0.8% and prints below the 100 mark for the first time since April 2022. S&P500 rose ~0.8% and 10 Year US Tsy Yields fell ~9bps.
  • The local docket is empty on Friday.

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