New Zealand Unemployment Rate Q1: 4.9% (exp 5.1%; prev 5.2%)
New Zealand Participation Rate Q1: 70.6% (exp 70.5%; prev 70.5%)
PBoC Fixes USDCNY Reference Rate At 6.8892 (prev fix 6.8946 prev close 6.8965)
Asia stocks ride global momentum, dollar up on June Fed rate hike bets – RTRS
Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs – RTRS
Flows were light in the Asian session, as Japanese and Hong Kong markets were closed. Meanwhile, Chinese and Australian stock markets declined.
In FX, the New Zealand Dollar rose after stronger than expected employment data. The unemployment rate fell from 5.2 % to 4.9 %. NZD/USD rose from 0.6930 to 0.6970. A break above 0.6980 resistance would suggest that the currency pair is likely to recover further. The next notable resistance level then lies at 0.7050.
The Australian Dollar failed to follow the NZD higher. AUD/USD fell from 0.7545 to 0.7505, and some pressure came also from AUD/NZD selling.
The US central bank will decide on interest rates today. No changes are expected, and it is unlikely that there will be a surprise. There will be no press conference for today, but the FOMC will release a statement at 19:00 BST.