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Pressured, Fresh YTD Low On Thursday

NZD

NZD/USD prints at $0.6845/50, the pair is ~0.1% lower this morning.

  • Kiwi has marginally extended yesterdays losses in early dealing today printing a fresh YTD low at $0.5841. Spillover pressure from the AUD, which was pressured after the labour market report, as well as higher US Tsy Yields are weighing.
  • A reminder that technically there is little in the way of support for NZD/USD. Downside support now comes in at the $0.58 handle and $0.5719 a Fibonacci projection.
  • AUD/NZD has ticked away from the 200-Day EMA and sits a touch above the $1.08 handle.
  • Wider swings in risk sentiment remain as the main driver in NZD today.
  • Looking ahead on the wires early tomorrow the September Trade Balance is due, there is no estimate for the print.

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