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Marginally Firmer, Current Account Balance Narrows In Q2

NZD

NZD/USD prints at $0.5940/45, the pair is ~0.1% firmer on Tuesday.

  • The kiwi firmed in early dealing printing a 2 week high, the move didnt follow through and gains were pared.
  • NZD/USD is holding above the 20-Day EMA ($0.5932) for now.
  • AUD/NZD is a touch lower however the cross continues to operate in narrow ranges.
  • The Q2 NZ current account deficit narrowed more than expected to $4.2bn from a downward revised $4.7bn. Seasonally adjusted it narrowed $1bn to $6.6bn, due to a better trade deficit.
  • Wider swings in risk sentiment will be the main driver in NZD for the remainder of the session.

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