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Narrow Ranges, AUD/NZD Marginally Firmer

NZD

NZD/USD prints at $0.6163/67, little changed from today's opening levels.

  • A narrow range has been observed thus far today. Moves have been contained to a $0.6155/75 range and there has been little follow through on moves.
  • AUD/NZD is marginally firmer, the cross has dealt in a narrow range around its 200-day EMA ($1.0919) in recent sessions as it consolidates after falling below the $1.10 handle last week.
  • Cross asset flows are showing a moderate risk-on bias, e-minis are up ~0.3% and US Treasury yields are ~1bps softer across the curve. BBDXY is down ~0.1%.
  • Looking ahead, tomorrow the ANZ Business Survey for February is on the wires. Through the week we also have CoreLogic House Prices, Building Permit, Terms of Trade and ANZ Consumer Confidence.
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