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Narrow Ranges On Monday

NZD

NZD/USD prints at $0.5890/95, the pair is little changed from opening levels.

  • Kiwi has sat in a narrow ranges this morning there has been little follow through on moves and the cross asset space remains relatively muted.
  • Technically we sit on the 20-Day EMA ($0.5897), bulls focus on breaking the measure to target the $0.60 handle and the 200-Day EMA ($0.6066). 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 below the $1.08 as narrow ranges persist.
  • Looking at the latest DTCC data there are no expiries of note at today's NY cut.
  • As mentioned the cross asset space is muted, the Hang Seng is a touch firmer and e-minis are marginally softer. US Tsy Yields are unchanged and Oil has ticked lower trimming some of Friday's gains.
  • Wider swings in risk sentiment will be the main driver as the market looks forward to tomorrow's US CPI print.
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