It's a bit of a quiet one as we get into the final stretch of the week as markets are still very much caught in a bind for now. The dollar is seen trading more mixed on the day, with EUR/USD sitting flattish around 1.0910 within a 30 pips range on the day. The only notable mover has been the kiwi, which was dragged down by softer RBNZ inflation expectations earlier.
That is resulting in NZD/USD being down 0.9% to 0.6245 after facing rejection from its 5 April high of 0.6379 earlier this week. The drop today also takes out the 100-day moving average (red line) and gives sellers some added room to work with, with the 200-day moving average (blue line) only seen at 0.6158 currently.
Elsewhere, USD/JPY is up by 0.15% to 134.75 while GBP/USD is up 0.2% to 1.2530 on the day. The pound saw Q1 GDP data come in within estimates, so there isn't much there to really shake up the outlook after the BOE decision yesterday.
Meanwhile, USD/CHF is down 0.3% to 0.8915 while AUD/USD is down 0.2% to 0.6690 even as equities are seen holding up on the day so far. European indices are posting modest gains but look set to end the week where they began while S&P 500 futures are up 16 points, or 0.4%, at the moment.
