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Tight Ranges V USD, AUD/NZD Firms. PPI On Tap

NZD

NZD/USD prints at $0.6250/55, ~0.1% firmer in yesterdays trading.

  • The pair dealt in a narrow $0.6220/60 range yesterday amid thin holiday trading.
  • Technically the NZD/USD trend is bearish. Bears now target 11 Nov low at $0.5985. Bulls first look to break the 200-Day EMA at $0.6295.
  • AUD/NZD printed its highest level since October at $1.1088, before paring gains to last print at $1.1050/60 up ~0.4% yesterday.
  • Cross asset flows were muted. DXY was little changed, and e-minis were around ~0.3% softer.
  • Q4 PPI data is on the wires this morning, there is no estimate, PPI Input prior read was 0.8% and Output was 1.6%.

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