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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

KIWI
KIWI: NZD/USD finished 52 pips lower Wednesday, with weak NZ jobs data and the
latest post-FOMC comments from Fed Chair Powell weighing on the pair.
- A downtick in headline unemployment indicated in NZ Q1 labour mkt report
released early into Wednesday's Asia-Pac session stemmed from a decline in
participation rate, as quarterly employment change was negative, while wage data
also disappointed. Kiwi landed at the bottom of the G10 pile, as a result.
- NZD/USD immediately pared some of the reaction losses and consolidated within
a ~20 pips range, trading either side of $0.6650 pre-FOMC.
- The FOMC's decision to cut its IOER by 5bp to 2.35% triggered an uptick in
NZD/USD, but a spike to the intraday low of $0.6616 followed, as Fed Chair
Powell called the revision "technical" and reiterated the central bank's patient
stance. He also downplayed the factors holding down inflation as "transient" and
said that downside risks to the outlook have moderated.
- NZD/USD last trades flattish at $0.6625. Initial support noted at the 1.0%
10-DMA envelope at $0.6583, while bulls look to Wednesday's high of $0.6681.
- NZ building approvals will be released at 2345BST.