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NZD/USD At Fresh Session Highs

NZD

NZD/USD prints close to $0.5800 up 1%, with the broad USD weakness extending. The bid in US e-mini futures continues, although we haven’t yet breached Wednesday’s high (3820).

  • With little news flow evident in the Asia session the recovery in risk sentiment is driving the USD lower.
  • NZD/USD is approaching yesterday's high of $0.5805, if broken bulls will have the 20-day EMA at $0.5840 in their sights.
  • NZD is outperforming its G-10 peers, with the broader DXY currently ~0.3% lower on the day. AUD/NZD is still around 0.30% lower for the session, last at 1.1270.
  • Comments from NZ Finance Minister Robertson indicated there doesn't need to be a recession in NZ, while stating fiscal and monetary policy need to work together.
  • He also expressed confidence in the long term resilience of the economy, and is also not worried about the long term outlook for the currency either.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange BulletsHomepage

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