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Muted Start, Q3 Employment Headlines Docket

NZD

NZD/USD prints at $0.5810/15, the pair is little changed from Friday's closing levels in a muted start to the week's trade.

  • On Friday the pair ticked away from session highs alongside pressure on US Equities which extended declines, to finish the week ~0.3% lower.
  • Bears now look to break the low from 26 Octo ($0.5774) to target $0.5741 (low from 3 Nov 22) and $0.5657 a Fibonacci projection. To turn the tide bulls target a break of the 20-Day EMA ($0.5876), which opens the $0.60 handle and the 200-Day EMA ($0.6084).
  • In early trade this morning, amid thin liquidity, AUD/NZD sits a touch above the $1.09 handle.
  • Cross asset wise on Friday WTI rose ~3%, the S&P500 fgell ~0.5% and BBDXY was ~0.1% lower. 10 Year US Tsy Yields were little changed.
  • The local docket is empty today. The highlight this week is Q3 Employment which crosses on Wednesday. The Unemployment Rate is expected to tick higher to 3.9% from 3.6%.
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