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NZD/USD Erases Earlier Losses, AUD/NZD Eyes 1.0900

NZD
The Kiwi has edged lower today after a slump in both Consumer -8.6% vs 1.0% prior and Business Confidence of 22.9 vs 34.7 prior, while NZ Milk collection rises 5.4% y/y.
  • NZD/USD has rebounded after making fresh lows after a sharp down in Business Confidence, the pair hit a low of 0.5981, before paring losses to trade at 0.5999. A break and hold below 0.5981 would open a move to 0.5941 lows from November 17th. The NZ-US 2Y swap is +6.5bps higher at -18.75bps
  • AUD/NZD is testing the 1.0900 level, a break and hold above would signal a move to 1.0925/35 (Sept 18/July 26 highs). The AU-NZ 2Y swap is +3.25bp higher -81.80bps.
  • (Bloomberg) -- New Zealand Names Two External Members to RBNZ Policy Committee (See Link)
  • (MNI) -- Business Survey Signals Soft Growth, Easing Inflation Expectations (see Link)

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