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Kiwi Pares Post Employment Losses


The Kiwi has found support below the $0.58 handle and pared its losses seen after the Q3 Employment report. Elsewhere in G-10 the Yen is trimming some of yesterday's losses.

  • NZD/USD prints at $0.5805/10, the pair is down ~0.3%. In volatile trade this morning the pair printed a low at $0.5794, falling as much as ~0.6% before paring losses. AUD/NZD is ~0.4% firmer and sits above the $1.09 handle.
  • AUD is a touch firmer however a ~10 pip range has been observed for the most part in early trade today. Technically the trend outlook is bearish, support comes in at $0.6270 low from Oct 26 and key support. Resistance comes in at $0.6406, 50-Day EMA.
  • Yen is firmer, however USD/JPY remains above the ¥151 handle. USD/JPY has breached last week's high and the uptrend has resumed. Resistance comes in at ¥151.71 (Oct 31 high) and ¥152.20, 3.00 proj of Jul 14-21-28 price swing. Support is at the 50 Day EMA (¥148.02).
  • Cross asset wise this morning US Equity futures are ~0.2% lower and US Tsy Yields are ~1bp lower across the curve.
  • In just under 90 minutes we have the Caixin Mfg PMI print due, it is expected at 50.8.

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