Pressured On Rising US Yields, Lower Equities. RBNZ On Tap

NZD/USD prints at $0.6210/11, ~0.7% softer in yesterday's trading.

• In a volatile trade yesterday the pair firm off session lows in Europe as the USD was briefly pressured. Resistance was seen ahead of the 100-Day EMA ($0.6264).
• Pressure came as rising US Yields and softer US Equities weighed on the Kiwi. Stronger than expected PMI data in the US saw the USD extend gains. Support came in ahead of $0.62 and NZD/USD marginally pared losses to deal at current levels.
• Bears target a break of $0.6191, 30 Nov low, opening $0.5985 the low from Nov 11. Bulls first look to break the 200-Day EMA at $0.6292.
• AUD/NZD was little changed yesterday, last printing $1.1035/40.
• Cross asset wise S&P500 was down 2% and 10 Year US Treasury Yields were ~14bps firmer. DXY was up ~0.3%.
• RBNZ's Monetary Policy decision headlines today. The Bloomberg survey median looks for an increase in the OCR of 50bps, our preview is here. On the wires shortly we have Jan Trade Balance, there is no estimate and the prior read was a deficit of $475mn