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ASIA RATES

China Repo Rates Creep Higher

GILT TECHS

(U1) Still Needs To Tackle Recent Highs

SCHATZ TECHS

(U1) Northbound

BOBL TECHS

(U1) Bullish Theme Dominates

BUND TECHS

(U1) Trend Conditions Remain Bullish

ASIA FX

Most Asia EM FX Higher As Greenback Retreats

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With the risk switch flicked to on, NZD caught a bid Wednesday along its high-beta peers. NZD/USD surged past the previous day's high, as BBG Commodity Index rose to a one-week high, while solid U.S. corporate earnings supported broader risk appetite. There was little in the way of NZ-specific news to push the pair in either direction.

  • NZD/USD last sits at $0.6969, barely changed on the day. The key near-term support has been defined at $0.6881/76, which represent Jul 20 low/61.8% retracement of the Sep 24 - Feb 25 rally. Bulls look for renewed gains past Jul 15 high of $0.7045, which would give bulls a green light for targeting Jul 7 high of $0.7061.
  • NZD/USD 1-month implied volatility (last at 9.49%) fell sharply on Wednesday, extending its move away from a four-month high of 10.36% printed on Tuesday.
  • The local docket is virtually empty during the remainder of this week.