NZD/USD Closed Back Above 0.6000 After Making New YTD Lows, Conway To Speak

NZD finished Monday back above 0.6000, and tracks close to this level in early Tuesday trading. There was little in the way of market headlines on Monday, with the pair trading in tight ranges of about 20 pips. NZD/USD posted modest gains on Monday up 0.18% as the pair was supported by a weaker USD, the BBDXY closed down 0.23%.

• NZD/USD has opened Tuesday trading at 0.6003 inline where it traded for the second half of the US session on Monday after making fresh new YTD lows of 0.5986 during earlier morning Asia trade on Monday. Today eyes will be on RBNZ Gov Conway, who will be giving a speech a bit later this afternoon.
• Key levels to watch: Initial support at 0.5986 (Mar 25 lows), below here 0.5941 (Nov 17 lows). Initial resistance at 0.6050 (Mar 22 high), a break above opens a move to the 0.6085 (200-day EMA).
• Earlier, New Zealand 1Q employment confidence gained 4.7 to 104.45, with the gauge above 100 indicating households have a positive view of the labor market.
• NZ PM Christopher Luxon and FinMin Nicola Willis spoke about the upcoming Budget Policy Statement release. Luxon highlighted the focus on fiscal discipline and outlined commitments to protect frontline services, provide tax relief, and prioritize economic growth, while Willis underscored the government's aim to correct structural budget deficits and ensure fiscal sustainability through gradual budget adjustments.
• Looking ahead today, NZ RBNZ Conway will speak at 2.30pm AEST