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Retreats From Two Month High

NZD

NZD/USD prints $0.6010, down ~0.2% in today's trading.

  • The pair has traded in a $0.5985/0.6020 range today, seesawing around the 100-Day EMA at $0.6009. Kiwi printed lows as the USD squeezed higher on a USD/JPY bid as some of the post CPI gains were unwound, before paring losses to trade at current levels.
  • Bulls target $0.6137, high from Sep 13, whilst bears target 50-day EMA at $0.5871.
  • Earlier, the manufacturing PMI slipped to 49.3, from a revised 51.7 last month. This is the weakest levels for the index since August 2021. Food prices also printed, rising 0.8%, versus 0.4% last month.
  • With a light data calendar for the remainder of the session participants will look for any wider swings in risk sentiment to provide direction for NZD.
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