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MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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NZD/USD Pulls Back To $0.7000

NZD

NZD/USD dropped Wednesday after charting a dragonfly Doji candlestick the previous day. Antipodean currencies faltered amid broader risk-off theme, while the greenback extended gains after the release of the latest FOMC meeting minutes. Sentiment was wounded as reports surrounding AstraZeneca Covid-19 vaccine risks did the rounds.

  • The rate trades flat at $0.7012 as we type, with bears looking for a slide through Wednesday's low of $0.6997, towards Apr 1/Mar 25 lows of $0.6946/43. Bulls look for a move through the $0.7069/70 area, which capped gains on Apr 5-7. A break here would open up the 100-DMA at $0.7143.
  • Flash ANZ Business Confidence headlines the local docket today. Looking further afield, RBNZ Chief Economist Ha will speak at the Citi 2021 Spring Virtual Macro Forum tomorrow.
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