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Narrow Ranges In Asia, Food Prices Fall In October

NZD

NZD/USD prints at $0.5880/85, the pair is ~0.1% firmer this morning.

  • Kiwi has ticked marginally higher alongside US Equity Futures and WTI. NZD/USD sits in a $0.5875/85 range.
  • Technically we sit a touch below the 20-Day EMA ($0.5894), bulls focus on breaking the measure to target the $0.60 handle and the 200-Day EMA ($0.6064). On the downside bears look to break the low from 2 Nov ($0.5844), which opens the $0.58 handle and YTD lows ($0.5774).
  • AUD/NZD is consolidating yesterday's gains in a narrow range above the 20-Day EMA ($1.0837).
  • In October Food Price fell 0.9% as inflation pressures continue to ease in New Zealand.
  • RBNZ Governor Silk also noted in a speech this morning that previous tightenings are showing an impact in terms of reducing demand and inflationary pressure (BBG).
  • Looking ahead earlier in tomorrow's session we have October Card Spending due, there is no estimate for the release.
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