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Kiwi Trims Post-CPI Gain

FOREX

The NZD has trimmed its post-CPI gains, NZD/USD sits ~0.3% firmer having been up as much as 0.6% after Q2 CPI was firmer than estimates although the print was in line with RBNZ forecasts.

  • NZD/USD prints at $0.6290/95, trimming gains from its post CPI high of $0.6315. Bulls target yesterday's high $0.6344, a break through here opens high from 14 July ($0.6412).
  • AUD/NZD was supported at $1.08 and has pared its post CPI losses in recent dealing to sit at $1.0820/30 down ~0.3% today. The 200-Day EMA comes in at $1.0843.
  • Yen is a touch softer, USD/JPY is up ~0.1% however the pair hasnt been able to sustain a break of ¥139 in recent dealing.
  • AUD is little changed from opening levels, ranges have been narrow with little follow through on moves thus far.
  • Cross asset wise; US Tsys are flat as is BBDXY. E-minis are a touch lower.
  • The docket is thin for the reminder of the Asian session today. Further out we have UK and EU CPI.
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