Free Trial

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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.