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Pressured On Risk-Off Flows

NZD

NZD/USD prints at $0.6469, down ~0.4% in yesterday's trading.

  • The pair firmed through the European session, spillover from a bid in EUR/USD weighed on the greenback, meeting resistance above $0.65.
  • Firmer US Yields pressured risk assets, with the USD advancing off session lows. NZD/USD fell ~0.7% from peak to trough, with support coming in ahead of $0.6460.
  • Cross asset flows showed a risk off tone. S&P500 fell 1.3% and the DXY rose ~0.3%. US 10-Year Treasury Yields were ~4bps firmer.
  • NZD/USD continues to consolidate, bulls look to break $0.6530 high from 18 Jan to re-establish the bullish trend. Bears first target 20-day EMA at $0.6422 to turn the tide.
  • There is a thin local data calendar today, wider swings in risk sentiment will be the main driver of NZD.
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