NZD/USD falls to the lows of the day

NZD/USD breaks the opening low

Safe haven trades are starting to find a bid once again but it’s a slow move. NZD/USD is at a fresh low down 35 pips to 0.6573, easing below the opening low.

NZD/USD breaks the opening low

A better risk proxy is NZD/JPY and it’s still holding the opening low but it’s also under pressure.

I expect fresh rounds of risk appetite when Europe and North American arrive and a big test will be the US open. There are certainly a variety of opinions about the importance of the outbreak and the BTFD crowd is basically undefeated over the past decade. Still, this isn’t yet much of a dip to buy.

Another big factor will be earnings. Here’s a look at the schedule this week:



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