NZD/USD prints at $0.5970/75, the pair rose ~1% on Tuesday in its strongest day since mid-July.
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NZD/USD prints at $0.6150/60, the pair is little changed from opening levels in a muted start to the week's trade.
Morgan Stanley expect “the 1y+ NZGB index to extend by 0.003y in July, compared to an average July extension of 0.023y and an average month's extension of 0.029y. A total of about NZ$1 billion of issuance will affect the extension, and no bonds will fall out of the index.”
USDCAD remains in consolidation mode and is trading above key support at 1.3093, the Jul 14 low. Moving average studies continue to highlight a dominant downtrend. A break of 1.3093 would confirm a resumption of the medium-term bear cycle. This would open 1.3084 and 1.3032, Fibonacci projection points. On the upside, clearance of the 50-day EMA, at 1.3288, is required to highlight a possible short-term reversal.