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Holding Moderately Firmer, Narrow Ranges Persisting

NZD

NZD/USD prints at $0.6235/40, the pair is ~0.2% firmer today.

  • The kiwi is holding moderately firmer today. NZD/USD has risen after a trade surplus was recorded in April and rate differentials continued to tick wider as the impact of the NZ budget lingers.
  • NZD/USD briefly dealt above the 20-Day EMA however there was little follow through and a narrow $0.6225/45 range has persisted.
  • AUD/NZD is ~0.1% lower however the cross is well within recent ranges.
  • Cross asset wise; e-minis are ~0.2% firmer and BBDXY is marginally higher. US Treasury Yields are little changed across the curve.
  • With a thin docket for the remainder of the day wider swings in risk sentiment will be the main driver of NZD.
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