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Pares Majority Of Post Fed Gains

NZD

NZD/USD prints at $0.6220/25, the pair rose ~0.5% yesterday.

  • The pair firmed in the immediate aftermath of the Fed rate decision, the bank hiked 25bps however the USD was pressured as the statement and latest summary of economic projections leaned dovish.
  • Resistance was seen at the 200-Day EMA ($0.6272), and NZD/USD pared gains as US equities fell into the close. Treasury Sec Yellen said that the US govt was not considering blanket deposit insurance to stabilise the banking sector which weighed on risk sentiment.
  • Bulls look to break the 200-Day EMA, from here they target 2023 highs at $0.6538.
  • February’s ANZ Heavy Traffic Index fell 0.7% M/M, the prior read was 0.8%.
  • Cross asset flows were mixed; 10 Year US Treasury Yields fell ~17bps and the S&P500 fell 1.7%. DDBXY fell 0.5%.
  • The domestic data calendar is empty for the remainder of the day.
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