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US Equities Aid Recovery From Session Lows, PSI On Tap

NZD

NZD/USD prints at $0.6490, ~0.3% firmer in yesterday's trading.

  • The pair was pressured in the European session, weakness in EUR/USD spilled over into broader greenback strength, before finding support below $0.6450.
  • Strength in US Equities helped NZD firm though the NY session, in a trough to peak rally of ~0.8%, to deal at current levels.
  • Cross asset signals were mixed, S&P500 was up ~1.2% and 10 Year US Treasury Yields were ~4 bps firmer. The DXY was little changed.
  • Bullish trend is intact, bulls first target is 18 Jan high at $0.6530. Bears first target 20-day EMA at $0.6380.
  • On the wires shortly is Dec BNZ Performance Services Index, the prior reading was 53.7.
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