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Muted Start, Q2 Employment Headlines Week's Docket

NZD

NZD/USD prints at $0.6150/60, the pair is little changed from opening levels in a muted start to the week's trade.

  • The pair unwound the majority of its post BOJ losses in Friday's European session, USD/JPY reversed losses which spilled over into firmer risk sentiment.
  • NZD/USD had found support ahead of $0.6120 and rose ~1% from session lows, marginally extending gains after the latest round of US data. Kiwi ticked lower in the NY session dealing in narrow ranges ending the session ~0.3% lower than opening levels.
  • Bears target a break of the low from 28 July ($0.6121) which opens low from June 29 ($0.6051) and year to date lows ($0.5985). Bulls first target the 20-Day EMA ($0.6208), the 200-Day EMA comes in at $0.6227).
  • AUD/NZD sits a touch above the $1.08 handle at the base of it's recent range.
  • Cross asset wise; on Friday BBDXY fell 0.1% and S&P500 rose 1%. 10 Year US Tsy Yields were 3 bps lower.
  • On the wires today we have the July ANZ Business Survey. The highlight of the week is the Q2 Employment Report on Wednesday, the unemployment rate is forecast to rise to 3.5% from 3.4%.
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