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Pressured On Friday, Retail Sales On Tap

NZD

NZD/USD prints at $0.6165, little changed in a muted start to the week's tradings.

  • The pair was pressured on Friday as US Yields rose after a stronger than expected PCE Deflator print. New sanctions Russia and US-Sino tensions over military aid also weighed on risk sentiment.
  • NZD/USD fell ~1.4% from peak to trough, printing its lowest level since late November.
  • Bears target $0.60, round number support. Bulls first look to break the 20-day EMA at $0.6281 to turn the tide.
  • Cross asset flows showed a risk off tone. 10 Year US Treasury Yields rose ~7bps, and DXY was ~0.6% firmer. S&P500 fell ~1%.
  • Q4 Retails Sales Ex Inflation will cross shortly. Despite significant monetary tightening and cost of living pressures the series is expected to rise 0.2%.
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