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Rangebound v USD, Broken Below Key EMA v JPY

NZD

NZD/USD prints at $0.6365/75, ~0.1% firmer in today's session.

  • An offer in USD/JPY, as press speculation surfaced that the BoJ will review the side effects of its monetary stimulus, spilled over into mild USD weakness helping lift NZD/USD off its session lows.
  • The pair met resistance at $0.6375 as the recent consolidation continues with NZD/USD struggling to break out of ranges.
  • NZD/JPY tested its 20-day EMA in early trading, before the BoJ headlines saw the pair offered, breaking below its 200-day EMA at ¥84.05.
  • AUD/NZD is marginally firmer, the pair remains in the bull channel as it recovers from lows seen last month.
  • Cross asset flows remain mixed, BBDXY is down ~0.1% and e-minis are little changed. US 10 Year Treasury yields are ~1bp firmer.
  • US CPI, which is on the wires this evening, provides the next risk event of note.
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