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NZD: NZD Edges Higher On Exporters Demand & China Equity Surge

NZD
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  • NZD is the top performing G10 currency today, with exporters demand and a surge in Hong Kong equities supporting the curreny. The NZD/USD is trading up 0.48% at 0.6311, although still well below Monday's highs of 0.6378.
  • NZD/USD’s 1-week implied volatility has risen with the tenor now covering RBNZ meeting next week, the contract has jumped 12.18% today to 13.17, implying a 71.4% chance the spot price will remain within 0.6190-0.6418.
  • Although off recent highs the pair remains in an uptrend, and trades comfortably above all key moving averages, initial resistance is seen at Monday's highs of 0.6378, while support is at 0.6253 (20-day EMA)
  • ANZ has been the most recent bank to changed their view to a 50bps cut by the RBNZ next week, this follows BNZ, ASB and HSBC.
  • Locally there has been little headlines today, later tonight we have CoreLogic Home Value and tomorrow ANZ Commodity Price, neither as expected to move prices.
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  • NZD is the top performing G10 currency today, with exporters demand and a surge in Hong Kong equities supporting the curreny. The NZD/USD is trading up 0.48% at 0.6311, although still well below Monday's highs of 0.6378.
  • NZD/USD’s 1-week implied volatility has risen with the tenor now covering RBNZ meeting next week, the contract has jumped 12.18% today to 13.17, implying a 71.4% chance the spot price will remain within 0.6190-0.6418.
  • Although off recent highs the pair remains in an uptrend, and trades comfortably above all key moving averages, initial resistance is seen at Monday's highs of 0.6378, while support is at 0.6253 (20-day EMA)
  • ANZ has been the most recent bank to changed their view to a 50bps cut by the RBNZ next week, this follows BNZ, ASB and HSBC.
  • Locally there has been little headlines today, later tonight we have CoreLogic Home Value and tomorrow ANZ Commodity Price, neither as expected to move prices.