Retail Sales On Tap, USD Weakness Continues

NZD/USD prints $0.6265, little changed from levels seen in late NY trading.

• The pair rose ~0.4% yesterday, but NZD was only a middle of the pack performer in the G10 space.
• The USD continued to fall in the wake of the dovish feel provided in the FOMC minutes.
• NZD/USD firmed through the London session, finding resistance at $0.6289 before settling into a tight $0.6264/74 range as volume tailed off due to the US Thanksgiving Holiday.
• Early this morning Nov ANZ Consumer Confidence printed 80.7, down 5.5% on the prior reading.
• Technically, bulls look to target the high from 12 Aug at $0.6468, a break through there would open the way to the high from 3 June at $0.6576. Bears need to breach the 200-day EMA at $0.6237 to re-establish the downtrend.
• Coming onto the wires shortly we have Q3 Retail Sales, The Bloomberg survey median looks for +0.5% Q/Q.