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Lowest Level Since Mid-March, Greenback Firms Following Stronger US Data

NZD

NZD/USD prints at $0.6180/85, the pair fell ~0.4% on Monday.

  • A stronger than expected print for US Empire Manufacturing saw the USD firm, NZD/USD extended losses after being unable to recover above the $0.62 handle. The pair printed its lowest level since March 16.
  • US Equities rallied into the close helping risk sentiment recover, NZD/USD pared earlier losses after finding support below $0.6160.
  • Bears look to break 2023 lows at $0.6085 to re-establish the down trend. Bulls first target a break of the 20-Day EMA ($0.6229) to turn the tide.
  • AUD/NZD held above $1.08 yesterday, the pair last prints at $1.0830/40. The 200-Day EMA ($1.0871) is in sight for bulls.
  • Cross asset wise; DXY was ~0.5% firmer adn 10 Year US Treasury Yields were 9bps firmer. S&P500 rose ~0.3%.
  • REINZ House Sales were on the wires a short time ago, falling 15.0% in March improving slightly from the 31.1% fall in February.
  • The domestic data calendar is empty today.
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