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Supported Below $0.59

NZD

NZD/USD prints at $0.5900/05, the pair is ~0.4% lower today.

  • Early pressure, after the CPI print this morning, has persisted through the session this morning. NZD/USD has been supported below the $0.59 handle and sits a touch above the handle at typing.
  • AUD/NZD has extended gains above the 20-Day EMA ($1.0723) and sits at a 2 week high.
  • ANZ Bank now expect a rate hike in the OCR in February, revising their call for a November hike.
  • Cross asset wise there is a mild risk off tone; US Tsy Yields and the USD are a touch higher and e-minis are lower.
  • A thin docket for the remainder of today's session leaves wider swings in risk sentiment as the main driver in NZD.
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