NZD Steady After ANZ Consumer Confidence Reaches 10-Month High

NZD/USD ground lower Thursday as the greenback topped the G10 pile, bolstered by flows into the month-end & dovish ECB communique, with ECB Pres Lagarde all but pre-announced another stimulus package by the turn of the year. The rate probed the water under the 100-DMA/round figure support at $0.6001/00 before backing off there.

• New Zealand released quarterly report revealed that job ads fell 9.9% Q/Q in the three months through Sep, with the MBIE noting that "the recovery from COVID-19 on the New Zealand job market during the September 2020 quarter can be observed in the gradual slowing of the sharp fall in vacancies advertised online".
• Meanwhile, ANZ Consumer Confidence recovered to 108.7 from 100.0, reaching a 10-month high, as "households are increasingly confident that the housing boom has legs but they remain wary about whether it is a good time to splash the cash".
• NZD may draw some support from NZGB flows in the coming sessions; see an earlier KIWI bullet for more details.
• The rate last trades flat at $0.6628. A breach of the 100-DMA/yesterday's low at $0.6601/0.6597 would open up Oct 20/8 lows of $0.6553/47. Conversely, a recoil above Oct 27 high of $0.6724 would expose Sep 18 high of $0.6798.
• Next week's highlights in NZ include CoreLogic House Price Index & building permits (Monday), labour market report (Wednesday), flash ANZ Business Confidence (Thursday) & inflation expectations (Friday).