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Rangebound vs USD, AUD/NZD Firms


NZD/USD prints at $0.6315/20, ~0.1% lower than yesterdays closing levels.

  • The pair has been in a narrow $0.6310/30 range today, with little meaningful moves observed.
  • There was a muted reaction to Jan Business NZ Manf. PMI data. The measure is back in expansionary territory, printing at 50.8 and the prior read was revised higher to 47.8.
  • Jan Card Spending was also on the wires, with Total Card Spending printing at 3.3% rising from -1.2% prior. Retail Card Spending rose 2.6%, the prior print was revised higher to -2.3%.
  • AUD/NZD is ~0.2% firmer, last printing $1.0975/85. Bulls look to retest $1.10 handle to target $1.1045 the high from Nov 11.

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