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Pares Gains in NY Session, Docket Empty Today

NZD

NZD/USD prints at $0.6045/50, the pair was ~0.2% firmer on Tuesday.

  • Softer US Equities weighed on the Kiwi through the NY session with losses extending after the FOMC meeting minutes. There was no surprises in the minutes with position squaring ahead of the US holiday perhaps aiding the bid in the USD.
  • Earlier NZD/USD had been up as much as 0.8%, printing its highest level since August and briefly dealing above the 200-Day EMA ($0.6063).
  • Bulls immediate focus is on sustaining a break of the 200-Day EMA targeting 21 Nov high ($0.6086). A break through here opens $0.6168, 61.8% retracement of Jul-Oct bear leg and $0.62 handle. On the downside bears focus on a break of the $0.60 handle to target the 20-Day EMA ($0.5950).
  • At Tuesday's GDT auction, Whole Milk Powder Price rose 1.9% to an average price of $3268/MT.
  • The local data docket is empty on Wednesday, Fridays Q3 Retail Sales ex Inflation is the next print of note.
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