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NZD: NZD/USD Falls Over 1% As US Yields Rise

NZD
USGlobalAPACNew ZealandBulletMarketsForeign Exchange BulletsRegionNorth America
  • The NZD was one of the worst performing G10 currencies on Wednesday, with only the NOK selling off more. There was broad USD strength as US yields sold off, while the euphoria around the China stimulus looks to have faded somewhat. The NZDUSD closed the session down 1.20% at 0.6263 and at session's worst levels.
  • It is another quiet session for New Zealand today, with nothing on the data calendar although they will look to auction 2029, 2035 & 2037 Bonds
  • The pair was unable to hold above the yearly highs at 0.6340 on Wednesday and is now hovering just above support at 0.6260 (Sep 24 lows) with a break here then targeting 0.6217 (20-day EMA). The RSI is dropped to 58 from 69, while the MACD is now decreasing green bars
  • RBNZ dated OIS pricing was little changed on Wednesday, the market is pricing 42bps of cuts at the next meeting in October, and 89bps of cuts into year-end.
  • The NZ-US 2yr fell 2bps to 16bps on Wednesday
  • Expiries: 0.6225 ($526.66m) Sep 26
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  • The NZD was one of the worst performing G10 currencies on Wednesday, with only the NOK selling off more. There was broad USD strength as US yields sold off, while the euphoria around the China stimulus looks to have faded somewhat. The NZDUSD closed the session down 1.20% at 0.6263 and at session's worst levels.
  • It is another quiet session for New Zealand today, with nothing on the data calendar although they will look to auction 2029, 2035 & 2037 Bonds
  • The pair was unable to hold above the yearly highs at 0.6340 on Wednesday and is now hovering just above support at 0.6260 (Sep 24 lows) with a break here then targeting 0.6217 (20-day EMA). The RSI is dropped to 58 from 69, while the MACD is now decreasing green bars
  • RBNZ dated OIS pricing was little changed on Wednesday, the market is pricing 42bps of cuts at the next meeting in October, and 89bps of cuts into year-end.
  • The NZ-US 2yr fell 2bps to 16bps on Wednesday
  • Expiries: 0.6225 ($526.66m) Sep 26