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NZD Bottom Of The G10 Pile

FOREX

The greenback slightly higher in early Asia trade on Friday, but still within Friday's range.

  • Antipodean pairs under pressure, AUD/USD down 6 pips as markets contemplate the lockdown in Victoria. Losses tempered by gains in iron ore after China announced output cuts on a pollution crackdown.
  • NZD/USD down 14 pips, data earlier showed NZ ANZ Consumer Confidence Index for May at 114.0 from 115.4 previously. RBNZ Gov. Orr spoke and was positive on the outlook, saying downside risks to the economy have lessened.
  • USD/JPY is 8 pips higher; Japan will extend its State of Emergency in Tokyo and other areas through to June 20, just five weeks before the Olympics is due to start. Data showed the jobless rate rose 0.2ppts to 2.8%, above estimates, while Tokyo CPI fell less than expected the headline print at -0.4% Y/Y against consensus -0.5%.
  • Offshore yuan is weaker, the US Senate advanced legislation aimed at countering increasing Chinese competitiveness.
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