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See-Saws After Fed Rate Decision, Local Docket Empty Today

NZD

NZD/USD prints at $0.6210/15, the pair was ~0.1% softer on Thursday.

  • The see-sawed in the aftermath of the Fed's decision to rate rates to a 22-Year high. NZD/USD initially fell below $0.62 before paring losses and printing a session high as Fed Chair Powell remained non committal about a September decision in the press conference.
  • The pair pared gains into the close as US Equities came off session highs, finishing the day marginally lower.
  • Bulls target a break of the 200-Day EMA ($0.6229), from here they can target the high from 20 July ($0.6308). Bears target a break of Monday's low ($0.6164) which opens the low from 29 June ($0.6051).
  • AUD/NZD dealt in a narrow range yesterday and sits a touch below the $1.09 handle.
  • Cross asset wise; BBDXY fell ~0.3% and 10 Year US Tsy Yields were ~2bps lower. S&P500 was little changed yesterday.
  • The local docket is empty today.
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