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Narrow Ranges On Monday, Local Docket Empty

NZD

NZD/USD prints at $0.6105/10, the pair was ~0.2% firmer yesterday.

  • Narrow ranges persisted through Monday's session, a $0.6090/0.6110 range was observed for the most part as the NZD struggled to follow through on moves.
  • Firmer US Equities aided risk sentiment into the close helping Kiwi consolidate gains above the $0.61 handle in the NY session.
  • Bulls first target a break of high from Aug 4 ($0.6133) which opens the 20-Day EMA ($0.6163). Bears target a break of the low from 3 August ($0.6061) which opens year to date lows ($0.5959).
  • AUD/NZD continues to consolidate below $1.08 in a narrow range.
  • Cross asset wise; S&P500 rose ~0.8% and 10 Year US Tsy Yields were ~5bps firmer. BBDXY was flat and WTI fell ~1%.
  • The domestic docket is empty today.
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