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Pressure Extends, AUD/NZD Supported At $1.08

NZD

Early pressure on the NZD, as US equity futures fell after the WSJ reported that the US is considering new curbs on chip exports to China, has extended in recent dealing after a softer than forecast inflation print from Australia weighed.

  • NZD/USD prints at $0.6120/25, down ~0.6% today. The pair sits a touch above the support at the low from 23 June ($0.6117), a break through here opens the low from June 8 ($0.6031).
  • AUD/NZD is little changed, the pair was down ~0.4% in the aftermath of the Australian CPI print however it found support at $1.08 and pared losses.
  • Cross asset wise; BBDXY is up ~0.2% and e-minis are down ~0.2%. US Tsy Yields are little changed.
  • Looking ahead; on the wires tomorrow we have the ANZ Business Survey for June on the wires.
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