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Muted Reaction As April PSI Falls to 49.8

NZD

There has been a muted reaction in NZD after April Services PSI fell to 49.8 from 53.8, this was the lowest print since February 2022.

  • NZD/USD prints at $0.6195/0.6200, the pair has observed a narrow range thus far on Monday. Bears look to target low from May 1 at $0.6161, a break through here open year to date lows ($0.6085). Bulls first look to break the 20-Day EMA ($0.6241).
  • AUD/NZD is a touch lower printing at $1.0720/30, dealing in a narrow range around the 20-Day EMA ($1.0727).

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