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Pressured As US Tsy Yields Rise

NZD

NZD/USD prints at $0.6225/30, the pair fell ~0.5% on Thursday.

  • Rising US Tsy Yields through yesterday's European and NY session, which extended gains on lower than forecast initial jobless claims, boosted the greenback and weighed on risk sentiment yesterday.
  • Kiwi pared its gains seen in the Asian session falling ~1.5% from peak to trough before marginally paring losses as support was seen below $0.6220.
  • Technically the pair sits on the 200-Day EMA ($0.6228) and a touch below the 20-Day EMA ($0.6233). Bears target a break of $0.62, this opens the low from 29 June ($0.6051). Bulls look to break yesterday's high ($0.6308), from here they can target the high from 14 July ($0.6412).
  • AUD/NZD rose 0.5%, holding the majority of its post Australian jobs gains. The cross sits a touch under the $1.09 handle.
  • The RBNZ has published its policy dates for 2025, more here.
  • Cross asset wise; 10 Year US Tsy Yields were ~10bps firmer and BBDXY rose ~0.4%. S&P500 fell ~0.7% and WTI rose ~0.5%.
  • The local data calendar is empty today.
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