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Narrow Ranges On Thursday, Consumer Confidence On Tap

NZD

NZD/USD prints at $0.5960/65, the pair was ~0.2% firmer yesterday.

  • Narrow ranges persisted for the majority of Thursday's trading, with perhaps the proximity to today's NFP print limiting activity. A $0.5940/70 range was observed for the most part.
  • A recovery off session lows was seen alongside commodities extending gains as WTI finished up ~2.4%.
  • Bulls focus on a break of Aug 30 high ($0.6007) which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6177). Bears look to break the low from 25 Aug ($0.5886) which opens $0.5841 (low from 10 Nov 22) and $0.5762, a Fibonacci projection.
  • AUD/NZD tested the $1.09 handle yesterday before paring gains through the session and sits at $1.0860/70 in early dealing.
  • Cross asset wise; S&P500 fell ~0.2% registering its first monthly fall since February. BBDXY was up ~0.3%, and US Tsy Yields were marginally lower across the curve.
  • On the wires at the top of the hour is Aug ANZ Consumer Confidence, there is no estimate and the prior read was 83.7.
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