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Pressured, Post-FOMC Gains Unwound, AUD/NZD Above $1.10

NZD

NZD/USD prints at $0.6160/70, the pair is down ~0.6% today.

  • Post Q1 GDP losses have extended through the Asian session as USD/JPY firms the greenback sees wide spread gains.
  • NZD/USD has unwound all its post-FOMC gains and bears now target the 20-Day EMA ($0.6135) to re-establish the downtrend.
  • AUD/NZD is a touch above the $1.10 rallying after Australian Employment data was stronger than expected.
  • BBDXY is up ~0.3%, 2 Year US Treasury Yields are ~2bps firmer and e-minis are marginally softer.
  • Looking ahead, May Mfg PMI is on the wires tomorrow, there is no estimate the prior read was 49.1.

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