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Holding Gains, Testing 20-Day EMA

NZD

NZD/USD prints at $0.6245/50, the pair is ~0.2% firmer today.

  • Kiwi is holding its early gains, after ANZ updated its RBNZ rate call lifting its terminal rate forecast to 5.75% in July. Light risk-on flows, US Tsys and US Equities are higher, are aiding the bid.
  • NZD/USD sits on its 20-Day EMA ($0.6244), bulls look to clear this level with their focus on the 200-Day EMA at $0.6263 as the next upside target.
  • AUD/NZD is ~0.1% lower however we remain well within recent ranges.
  • Looking ahead on the wires early in Thursday's session we have Q1 PPI, the New Zealand government also publishes their budget tomorrow.

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