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Narrow Ranges In Asia

NZD

NZD/USD prints at $0.5920/25, the pair is down ~0.1% today.

  • Kiwi is the weakest performer in the G-10 space at the margins, the lowest BusinessNZ Mfg PMI print since August 2021 is weighing, however ranges remain narrow with NZD/USD observing a $0.5920/35 range thus far.
  • Bears now look to target the YTD low at $0.5859 and $0.5728 a Fibonacci projection.
  • AUD/NZD sits ~0.2% firmer however the cross remains well within recent ranges.
  • Cross asset wise; US Tsy Yields are lower and e-minis are a touch firmer. BBDXY is marginally lower.
  • A thin docket for the remainder of the session leaves wider swings in risk sentiment as the main driver in NZD.
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