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Rebounds Amid US Yield Pullback/EUR Strength

NZD

NZD/USD recovered late in NY trade, pushing back into the 0.6160/70 region. This is where we currently track. The NZD saw a gain just under 0.50% for Monday's session, amid a broad USD pull back as US yields softened. Monday lows were around 0.6125, but post the Asia close dips sub 0.6140 were supported. The simple 200-day MA is close by at 0.6162, while the 50-=day MA sits higher at 0.6215.

  • A reminder that NZ markets, along with AU markets, are closed today for ANZAC day. This will result in thinner liquidity in both AUD and NZD FX crosses.
  • Tomorrow the data calendar swings back into gear, with the ANZ Truckometer out for Mar, along with Mar trade figures.
  • NZD/USD was mid-range from a G10 standpoint for Monday's session, with most G10 currencies rallying against the USD, as yields pulled back after the Dallas Fed manufacturing miss. EUR/USD was the standout among the majors, pushing back to 1.1050.
  • Commodity indices recovered, but less so in the metals space, which left the A$ lagging. This saw the AUD/NZD cross pull back to the 1.0850/60 region, against recent highs around 1.0930.
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