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Pressured In Asia

NZD

NZD/USD prints at $0.6220/25, the pair is down ~0.3% thus far on Monday.

  • Waning risk appetite as the lack of detail on further Chinese stimulus has weighed on the kiwi in Asia.
  • NZD/USD has fallen below the 200-Day EMA ($0.6234) with support coming in below $0.6220 in recent dealing.
  • AUD/NZD is little changed dealing in a narrow range above $1.10 handle.
  • In May PSI rose to 53.3 and the prior read was revised higher to 50.1.
  • Cross asset wise; BBDXY is up ~0.1% , e-minis are down ~0.1% having been up as much as 0.2% in early dealing. WTI futures are 1% lower.
  • Looking ahead, on the wires early tomorrow we have Q1 Westpac Consumer Confidence. There is no estimate and the prior read was 77.7.
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