Daily Alert: NZD/USD shakes it off…for now
- Markets have spent the night on the back-foot as incoming economic data has continued to print on the softer side of expectations
- On closer inspection this reflects US-specific, rather than global, recession fears taking some of the edge off the USD
- Across the pond, German bund yields set the tone for the night, slumping across the curve following a surprise lift in German unemployment to 5.3% in June (5.0% expected)
