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Free AccessMNI: PBOC Yuan Parity Higher At 7.0560 Wednesday; -5.44% Y/Y
US Treasury Auction Calendar
Pressured On Rising US Yields, Breaks 200-Day EMA
NZD/USD prints at $0.6280/85, down ~0.8% in yesterday's trading.
- The pair was pressured as rising US Yields underpinned greenback strength, stronger than expected US Retail Sales saw losses extended below the 200-day EMA.
- A recovery in US Equities facilitated a bounce off session lows, Kiwi pared losses of as much as 1.3% to deal at current levels.
- AUD/NZD is dealing below $1.10 having failed to sustain its break yesterday, last prints $1.0980/90.
- A close below the 200-day EMA opens up the low from 6 Jan at $0.6191. Bulls target a break of $0.64.
- The NZ Government six month budget deficit was $2.85bn, ~$39mn wider than forecast.
- Cross asset wise; S&P500 closed up 0.3% and DXY rose ~0.6%. 10 Year US Treasury Yields firmed ~6bps.
- Dec Net Migration will cross today, the prior read was 6110, there is no estimate.
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