Listen to the market mood for the NZDJPY currency pair in the coming session:
The NZD was supported on comments from RBNZ Governor Orr who stated that the NZ economy and RBNZ monetary policy are in a good place. The NZD has also been supported on the mild risk-on tones that have come through from Asian equities overnight.
The JPY is weaker today on gentle optimism after yesterday’s risk concerns on Apple’s projected earnings miss as the Nikkei (+0.73%) and the Hang Seng (+0.48%) moved into positive territory. Hopes of Government stimulus is also supporting the positive risk tone.
Expect NZDJPY buyers on pullbacks.
Risks to This Outlook
Any negative coronavirus related news that may result in JPY buying and NZDJPY downside on risk-off moves.