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Free AccessPressured As US Tsy Yields Rise
NZD/USD prints at $0.6180/85, the pair fell ~0.4% yesterday.
- The kiwi was pressured in yesterday's European and NY sessions, a cautious ECB weighed on the Euro which spilled over into broader USD strength. Losses extended as US Tsy Yields firmed in lieu of stronger than forecast US GDP.
- NZD/USD fell ~1.6% from its peak in Asia, falling below its 200-Day EMA ($0.6228) and the $0.62 handle in late NY trade.
- Bears now target a break of the low from 24 July ($0.6156), which opens low from June 29 ($0.6051) and year to date lows ($0.5985.) Bulls first target a break above the 20-Day EMA ($0.6216), which opens yesterday's high ($0.6274).
- AUD/NZD is sitting a touch above the 200-Day EMA ($1.0846), a level which has provided support in recent dealing and is emerging as a key level for bears.
- Cross asset wise; 10 Year US Tsy Yields rose 13bps sitting a touch below 4%. BBDXY was up ~0.6%, and e-minis were ~0.7% lower.
- On the wires today we have July ANZ Consumer Confidence. There is no estimate for the print and the prior read was 85.5.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.