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NZD/USD Can't Sustain +0.6100, As USD Sentiment Recovers, Local Markets Closed Today

NZD

NZD/USD finished close to flat on Friday, around mid-range from a G10 standpoint. From highs just above 0.6110 in early EU trade, the pair moved sub 0.6060 towards the end of NY session. Better US jobs data aided the USD recovery, with US 2yr yields spiking higher, finishing Friday's session close to 4.50%. NZD/USD currently tracks close to 0.6060, with NZ markets closed today for the King's Birthday holiday.

  • NZD/USD has recovered from lows sub 0.6000, recent lows in sub 0.5990, while the simple 200-day MA is around 0.6150 on the topside.
  • The local data calendar has ANZ commodity prices out tomorrow, then Q1 manufacturing activity and house sales data in the week. These releases shouldn't shift the sentiment needle too much.
  • NZD may be influenced more by tomorrow's RBA decision via the AUD/NZD cross, which has surged to 1.0900, tracking close to the 200-day MA, amid heightened expectations of potential RBA action this week.

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