January 26, 2023 21:18 GMT
Rangebound, ANZ Business Survey On Tap
NZD/USD prints at $0.6492, ~0.2% firmer in yesterday's trading.
- The pair dealt in tight ranges through the European session, respecting ranges seen in previous sessions.
- Stronger than expected US GDP initially saw the USD gain before reversing in volatile trade. NZD/USD met resistance above $0.65.
- Initial weakness in US Equities saw kiwi offered, support came in at $0.6460 and the pair rallied from session lows to current levels.
- Cross asset signals were mixed, DXY was up ~0.2% and the S&P500 closed up 1.1%. US 10 Year Treasury Yields were ~6bps firmer.
- NZD/USD is consolidating, bulls look to break $0.6530, high from Jan 18, opening up $0.66 round number resistance. Bears first target 20-day EMA at $0.6409.
- On the wires today we have the January ANZ Business Survey, there is no estimate for the print. Business Confidence prior reading was -70.2, Activity Outlook prior reading was -25.6.