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​NZD/USD Unwinds Post CPI Gains​​


NZD/USD is underperforming, so far off 0.6% from NY closing levels. This is the weakest performance within the G10 space. Spot now sits back at 0.5635/40 region, which is levels that prevailed around the time of the NZ Q3 CPI print from earlier this week. At the start of the week/late last week there was support evident around 0.5550, while the low 0.5500 region held on October 13th.

  • Weaker equities are weighing, with regional Asia Pac performance down amongst the major indices, which is aiding the USD against higher beta plays. US tech futures off by more than 1% at this stage (Tesla's disappointing revenue weighing).
  • AUD/NZD is up smalls, last at 1.1070.
  • NZD/JPY is back to 84.50, note the 100-day MA comes in at 84.585, the 50-day at 84.33.

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