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Moderately Softer In Volatile Session Post US-CPI, AUD/NZD Firmer


NZD/USD prints at $0.6335/40, ~0.3% softer in yesterday's trading.

  • The pair whipsawed in the immediate aftermath of the US CPI print, which rose 0.5% in January in line with estimates, dealing in a $0.6310/90 range.
  • Rising US Yields early in the NY session saw NZD/USD briefly print below $0.63, losses were pared as US equities firmed off session lows .The pair dealt in a $0.6330/60 range for the remainder of the session.
  • Technically the pair continues to consolidate. Bears first look to break February lows at $0.6270. Bulls look for a break of $0.64.
  • AUD/NZD firmed yesterday, up ~0.6%, last printing $1.1020/30. Bulls now look to target the high from November 11 ($1.1045) opening up $1.1101 the 61.8% retracement of the Sep-Dec downleg.
  • Cross asset wise; S&P500 finished little changed, 10 Year US Treasury Yields were ~4bps firmer and DXY was ~0.1% softer.
  • The local data calendar is empty today.

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