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Trimming Some Of Wednesday's Gains

NZD

NZD/USD prints at $0.5960/65, the pair is ~0.3% lower in Asia today.

  • Kiwi has trimmed some of yesterdays gains, an uptick in US Tsy Yields weighed in early dealing and NZD/USD has held near session lows despite a round in US Tsys.
  • The pair has been supported below $0.5960, bulls look to regain the $0.60 handle to target the 20-Day EMA ($0.6019). Bears look to break the low from 21 Aug ($0.5897) which opens $0.5841 (low from 10 Nov 22) and $0.5775, a Fibonacci projection.
  • AUD/NZD is up ~0.2% and sits at its highest level since 15 Aug.
  • Cross asset wise; US Equity Futures have marginally extended gains, e-minis sit up ~0.6%. BBDXY is little changed as are US Tsy Yields.
  • A thin docket today leaves wider swings in risk sentiment as the main driver in NZD.
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