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Pressured, AUD/NZD Testing 200-day EMA

NZD

NZD/USD prints at $0.6380/85, ~0.2% softer in today's trading, NZD is the weakest performer in G10 space at the margins.

  • The pair again failed to break the $0.64 level this morning before pressure came onto NZD/USD. Support came in at $0.6370.
  • Trans-Tasman flows may be weighing on the NZD as AUD/NZD continues to firm, having broken above $1.09 handle and is testing its 200-day EMA today.
  • Cross asset flows remain muted, BBDXY is little changed as are e-minis. US Treasury Yields are marginally firmer, 10YY is up 3bps.
  • China trade data, on the wires today, provides the next risk event.

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