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Pressured, Tuesday's Low Intact

NZD

NZD/USD prints at $0.5865/70, the pair is ~0.3% lower today.

  • Kiwi is the weakest performer in the G-10 space at the margins, USD/JPY has pared early losses and US Tsys have retreated from session highs boosting the USD.
  • Support has come in ahead of yesterday's low ($0.5859) and losses were marginally pared.
  • Q2 Construction Work fell -0.1% Q/Q, a rise of 0.2% had been expected.
  • Cross asset wise; BBDXY is a touch firmer and has breached Tuesdays highs, the index is at its highest level since March. E-minis are a touch softer and regional equities are lower in early trade.
  • A thin docket for the remainder of the session leaves wider swings in risk sentiment as the main driver in NZD today.
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