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NZD/USD Dips Close To 0.6100, 20-day EMA Nearby

NZD

NZD/USD remains on the backfoot. We have tracked sub recent lows around 0.6105 (hitting 0.6101 in recent dealings). Note the 20-day EMA isn't too far away (0.6093), while the 200-day sits at 0.6075.

  • Outside of the earlier highlighted weaker monthly inflation indicators, which has seen OIS and swap rates move lower, NZD/USD is being weighed by broader USD gain, the BBDXY now up 0.10%.
  • Regional equity sentiment is mostly weaker as well, with China markets down around 1% in terms of the CSI 300. This follows disappointment around the economic work conference meeting, particularly in terms of fresh stimulus measures.

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