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Marginally Softer, Narrow Ranges Observed

NZD

NZD/USD prints at $0.6100/05, ~0.1% softer in todays trade.

  • The pair has been in a narrow range today with little follow through on moves thus far. Support has come in below $0.61 in recent dealing.
  • AUD/NZD is little changed, the cross continues to hold below $1.08 handle.
  • Cross asset wise flows are mixed, US Equity futures are lower. The S&P500 is down ~0.2% on reports that President Biden wants to raise corporate tax as well as raise taxes on high income earners. US 10 year Treasury Yields are ~1bp lower. BBDXY is little changed.
  • Looking ahead, on the wires tomorrow we have Feb BusinessNZ Mfg PMI and Q4 Mfg Activity.
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