NZD Firmer After Q1 Employment

NZD is the strongest performer in the G-10 space at the margins on Wednesday, Q1 labour data showed that the labour market remains very tight and isn’t easing.

• NZD/USD sits at session highs last printing $0.6225/30 up ~0.3% today, the pair initially pared its post employment gains however a bid has emerged in recent dealing and it sits at its highest level since Apr 19.
• AUD/NZD is ~0.2% lower, bears look to break $1.07 handle to target year to date lows at $1.0588.
• AUD is also ~0.1% firmer, on the upside resistance is seen at $0.6711 the 50-Day EMA.
• Elsewhere in G-10 ranges have been narrow with little follow through.
• Cross asset wise; BBDXY is ~0.1% lower and US 10 Year Treasury futures are little changed from levels seen late in the NY session. E-minis are flat.
• There is a thin docket for the remainder of the Asian session today. Further out the latest FOMC rate decision and Fed Chair Powells press conference provides today's highlight. A slew of US data including ADP Employment, Services PMI and ISM Services.