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Pares Friday's Gains In Early Dealing, RBNZ Headlines Week's Docket

NZD

NZD/USD prints at $0.6270/80, the pair is ~0.2% softer in early trade on Monday in thin liquidity.

  • The angst of the US debt ceiling continues as there was no deal struck over the weekend with the talks set to continue on Monday.
  • On Friday NZD/USD firmed above the 200-Day EMA rallying ~0.9% before meeting resistance above $0.63.
  • Bulls now target the high from 11 May at $0.6385, on the downside bears first look to break the low 12 May $0.6182.
  • AUD/NZD printed its lowest level since late December before marginally paring losses, we sit a touch under the $1.06 handle on Monday.
  • Looking ahead, the RBNZ's monetary policy decision on Wednesday headlines this week's docket. The bank is expected to lift the OCR 25bps to 5.50%.

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