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Narrow Ranges v USD, AUD/NZD Consolidating Recent Gains

NZD

NZD/USD prints at $0.6195/0.6200, ~0.1% firmer in todays dealing.

  • The pair has observed narrow ranges thus far with little follow through on moves. We do sit a touch firmer as the NZD unwinds some of Tuesday's losses. Resistance has been seen ahead of $0.62.
  • AUD/NZD is consolidating recent gains and is a touch firmer today.
  • Cross asset wise flows are muted; BBDXY and e-minis are little changed. 10 Year US Treasury Yields are flat.
  • Total Card Spending in March rose 3.1%, indicating that consumer demand remains solid in the NZ economy.
  • The local docket is empty for the remainder of the session, wider swings in risk sentiment will be the main driver in the NZD.

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