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Pars Early Losses, Firmer Regional Equities Boost Risk Sentiment

NZD

NZD/USD prints at $0.6190/95, ~0.1% firmer in today's dealing.

  • The pair was pressured, as US Equity futures weakened, in early dealing. Losses were extended after softer than expected Australian data.
  • Support was seen below $0.6170, a recovery in US Equity futures off session lows and a stronger than forecast Chinese Official PMI print helped the Kiwi par losses.
  • Firmer regional equities, Hang Seng is up ~2%, boosted risk sentiment in recent dealing seeing the NZD marginally extend gains.
  • AUD/NZD continues to hold below softened printing a low of $1.0851 in the aftermath of the Australian data. However the cross pared its losses to print at $1.0870/80.
  • Jan Building Permits fell 1.5%, the prior read was revised higher to a fall of 7.1%.
  • Looking ahead tomorrow we have Q4 Terms of Trade, followed by Feb Consumer Confidence on Friday.
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