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Marginally Pressured After Resistance Above $0.63

NZD

NZD/USD prints at $0.6280/85, the pair is down ~0.1% today.

  • After firming in early trade NZD/USD met resistance above $0.63 and was unable to follow through on its break of the handle. Marginal pressure has been seen and we sit a touch softer on the day.
  • AUD/NZD is little changed, the pair continues to consolidate below $1.06.
  • E-minis are holding firmer, up ~0.3% and BBDXY is a touch higher. US Treasury Yields are little changed.
  • Looking ahead on the wires tomorrow we have Q1 Retail Sales ex Inflation, a rise of 0.2% is expected. However the docket is headlined by the RBNZ's monetary policy decision. The bank is expected to raise the cash rate 25bps to 5.50%.

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