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US Equities Aid Bounce Off Session Lows, Building Permits On Tap

NZD

NZD/USD prints at $0.6370, little changed in yesterday's trading.

  • The pair was pressured in the European session as a rally in EUR/CHF, driven by breaks of key technical levels, spilled over into a bid in USD. NZD/USD found support below $0.6350.
  • A bid in US Equities aided risk sentiment in NY, NZD/USD recovered off session lows to deal in a narrow $0.6350/70 range.
  • Cross asset flows were mixed, BBDXY was marginally firmer as were US Equities with the S&P500 up ~1.3%. 10 Year US Treasury Yields were down ~9bps.
  • The pair is consolidating after re-establishing the bullish trend. Bulls first target a sustained break of $0.64, Bears first look to break 20-day EMA at $0.6319 to turn the tide.
  • On tap today we have Nov Building Permits, prior reading was -10.7%.

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