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Rangebound On Thursday, Consumer Confidence On Tap

NZD

NZD/USD prints at $0.6070/75, the pair was little changed on Thursday.

  • The kiwi was rangebound yesterday with NZD/USD unable to break the $0.6050/0.6100 range.
  • A revision higher in Q1 GDP from the US saw the NZD retreat from session highs after failing to breach the $0.61 handle. Support from stronger US equities saw losses pared into the close.
  • Bears target a break of the low from 8 June ($0.6031) which opens year to date lows at $0.5985. Bulls first look to break the 20-Day EMA ($0.6138) to turn the tide.
  • AUD/NZD sits on the $1.09 handle having broken above the 200-Day EMA. A Golden Cross has been observed adding to the bullish momentum.
  • Cross asset wise; 2 Year US Tsy Yields rose 15bps, and BBDXY rose ~0.3%. The S&P500 rose 0.4%.
  • On tap today we have June ANZ Consumer Confidence, there is no estimate and the prior read was 79.2.
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