NZD: NZD/USD - Fails Above 0.6000 Again, RBNZ today

AUDUSD was unable to hold breaks above 64c on Friday and finished down 0.2% to 0.6397 after a trough of 0.6375. All G10 currencies were lower against the US dollar (BBDXY +0.2%) with Aussie one of the better performers helped by positive risk appetite. AUDUSD tried again today to breach 64c reaching 0.6407 but is now at 0.6396, as US equity futures fall. 

• The bullish theme in AUDUSD remains intact with the break of key resistance at 0.6409 reinforcing this. Initial resistance is at 0.6439, while support is at 0.6344.
• The yen underperformed in the better risk environment leaving AUDJPY 0.6% higher at 91.92. It is around this level in today’s trading. Kiwi also struggled in this environment with AUDNZD up 0.4% to 1.0730 reaching 1.0736, its highest since Monday.
• The euro and pound performed in line with the AUD. AUDEUR reached 0.5664 in Friday’s APAC trading but then trended down to 0.5613. It finished slightly higher at 0.5630 and is currently around 0.5635. AUDGBP was little changed at 0.4806.
• Equities rallied with the S&P up 0.7% and Euro stoxx +0.8% but the S&P e-mini has started the week lower (-0.2%). Oil prices rose with WTI +0.6% to $63.17/bbl. Copper fell 0.2% and iron ore is lower at around $98/t.
• There are no data or events in Australia today. The focus this week will be on Q1 CPI on Wednesday.

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