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Narrow Ranges On Friday

NZD

NZD/USD prints at $0.5915/20, the pair is down ~0.1%.

  • Kiwi is marginally pressured on Friday, weaker regional equities and an offer in EUR/USD which has spilled over into moderate USD strength are weighing.
  • Ranges remain narrow as the pair is sitting in a $0.5915/30 range.
  • Technically we remain in a strong downtrend, bears look to break the low from 21 Aug ($0.5897). Bulls target the 20-Day EMA ($0.6006).
  • Cross asset wise; e-minis are a touch firmer and the Hang Seng is down ~1%. US Tsy Yields are little changed and BBDXY is up ~0.2%.
  • Wider swings in risk sentiment will be the main driver in NZD ahead of Fedpeak from Chair Powell this evening.

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