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NZD Heads Higher Against Most G10 FX, Sharp Reversal In NZDJPY down 1.20%

NZD
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The Kiwi is one of the top performing G10 currency today, up 0.67% vs the USD. Earlier New Zealand reported a rise in March Filled Jobs to 0.4 % vs 0.3% in Feb. Looking ahead this week, focus will turn to ANZ Business Confidence on Tuesday and Unemployment on Wednesday. NZGBs yields are off Friday highs after the 2Y & 10Y yields both topped 5% briefly.

  • NZD/USD is up 0.67% at 0.5980 and has now broken back above the 20-day EMA. USD weakness is supporting the currency, while the JPY has seen a sharp correction rallying 400-pips. Initial resistance holds at 0.6000 (round number resistance), above here the 0.6015 (50-day EMA) while to the downside a break of 0.5960 (20-day EMA) is needed to continue the move lower to 0.5941 (intraday lows).
  • AUD/NZD is up 0.10% at 1.1010, after earlier making lows of 1.0946. The AU-NZ 2y swap is 1bps higher -72.5bps, while the 14-day RSI is now in overbought territory at 75. A hold above 1.1000, is needed to test the yearly highs at 1.1056 (Jun 19th), while to the downside initial support lays at 1.0920 (20-day EMA).
  • NZD/JPY is down 1.2% at 92.960 having just recently dropped 200-pips. Onshore liquidity is thin today with Japan out, BoJ could be responsible for this move however it's hard confirm.
  • Looking ahead, ANZ Business Confidence on Tuesday
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The Kiwi is one of the top performing G10 currency today, up 0.67% vs the USD. Earlier New Zealand reported a rise in March Filled Jobs to 0.4 % vs 0.3% in Feb. Looking ahead this week, focus will turn to ANZ Business Confidence on Tuesday and Unemployment on Wednesday. NZGBs yields are off Friday highs after the 2Y & 10Y yields both topped 5% briefly.

  • NZD/USD is up 0.67% at 0.5980 and has now broken back above the 20-day EMA. USD weakness is supporting the currency, while the JPY has seen a sharp correction rallying 400-pips. Initial resistance holds at 0.6000 (round number resistance), above here the 0.6015 (50-day EMA) while to the downside a break of 0.5960 (20-day EMA) is needed to continue the move lower to 0.5941 (intraday lows).
  • AUD/NZD is up 0.10% at 1.1010, after earlier making lows of 1.0946. The AU-NZ 2y swap is 1bps higher -72.5bps, while the 14-day RSI is now in overbought territory at 75. A hold above 1.1000, is needed to test the yearly highs at 1.1056 (Jun 19th), while to the downside initial support lays at 1.0920 (20-day EMA).
  • NZD/JPY is down 1.2% at 92.960 having just recently dropped 200-pips. Onshore liquidity is thin today with Japan out, BoJ could be responsible for this move however it's hard confirm.
  • Looking ahead, ANZ Business Confidence on Tuesday