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FOREX

Commodity Related Currencies Bid

EQUITIES

Positive Start

KOREA RATES

5-Year Auction Results

RBNZ

VIEW: TD Securities Tweak RBNZ Call

GOLD

Softer USD Lends Support

US TSYS

10s Out Of The Recent Range

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Thursday was a bullish inside day for NZD/USD, as the kiwi firmed along other commodity-tied currencies. The space advanced as BBG Commodity Index moved higher. NZD/USD last trades at $0.7056, virtually unchanged on the day.

  • The rate crossed above its descending 50-DMA Thursday. Bulls need a clearance of Aug 4 high of $0.7089, before targeting Jul 6 high of $0.7105. Bears would be pleased by a pullback under Aug 2 low of $0.6953.
  • Looking ahead, next week's highlights include card spending (Tuesday), inflation expectations (Thursday) & BusinessNZ M'fing PMI (Friday).