Forex | Forex | NZD fell from 0.6550 to 0.6440, and the AUD/NZD cross rallied to a 1.2520 high (01/07/2009 05:39:38)

NZD fell from 0.6550 to 0.6440, and the AUD/NZD cross rallied to a 1.2520 high

News and views Investors shrugged off slightly improved US home price data and the Chicago PMI to focus on the disappointing consumer confidence report. Near the close, the S&P500 is down 0.8%, continuing a two month sideways pattern. The consumer confidence report also knocked commodities, oil down 2.2% and copper down 2.1%. US 10yr treasury yields spiked over 10bp to 3.82% as recent long positions were squeezed and a large Oracle corporate bond issue was hedged, but the data reversed


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