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Narrow Ranges On Thursday, Local Docket Empty Today

NZD

NZD/USD prints at $0.6075/80, the pair was little changed on Thursday.

  • Despite US Tsy Yields firming and weaker equities kiwi observed narrow ranges with little follow through on moves on Thursday.
  • A $0.6060/95 range persisted for the most part as NZD/USD consolidated after recent losses.
  • Bears now target low from Jun 28 ($0.6051) and year to date lows ($0.5985). Bulls look to break the $0.61 handle which opens the 20-Day EMA ($0.6184).
  • AUD/NZD remains below the $1.08 handle, the cross sits well within recent ranges last printing at $1.0765/75.
  • Cross asset wise; 10 Year US Tsy Yields rose 9bps and the S&P500 was ~0.3% lower. BBDXY was a touch firmer. WTI futures rose ~3%.
  • The domestic docket is empty today.
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