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Marginally Firmer, Ranges Narrow

NZD

NZD/USD prints at $0.6195/0.6200, the pair is ~0.1% firmer today.

  • Kiwi has ticked high versus USD through Monday's session, e-minis firming off session lows and NAB raising their call for the RBA terminal rate boosted NZD at the margins. However moves in NZD/USD do remain modest thus far.
  • AUD/NZD is a touch firmer, the pair has ticked away from its 20-Day EMA ($1.0727). Bulls target the high from 2 May at $1.0835.
  • Earlier in the session April PSI printed at 49.8 ticking lower from prior of 53.8. This was the lowest print since Feb 2022.
  • Looking ahead to tomorrow April Non Resident Bond Holdings cross, there isn't expected to be any market impact from the print. Further out on Thursday we have Q1 PPI and on Friday April Trade Balance is due.

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