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Kiwi Falls To One-Week Low On Hawkish Fed Bets

NZD

NZD/USD clung onto losses registered in Tuesday's Asia-Pac session on the back of a sudden upswing in U.S. Tsy yields, printing a fresh one-week low as a result. Hawkish Fed bets were credited for bolstering the greenback, with growth proxies such as AUD and NZD taking a hit.

  • The rate last sits at $0.6774, holding a tight range so far. Bears see Jan 6 low of $0.6733 as their initial target and a break here would expose the $0.6703/02 area, which limited losses in Dec. Bulls look to retake Jan 13/Nov 25 highs of $6891/94.
  • Covid-19 Response Min Hipkins said this morning that the government will press pause on the release of more MIQ rooms until the Cabinet makes a decision on the reopening of New Zealand's border.
  • New Zealand's retail card spending rose 0.4% M/M in December, slowing from 9.5% registered in November.
  • Focus turns to BusinessNZ M'fing PMI, coming up Friday.
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