NZD crumbles on RBNZ rate cut and dovish guidance

Key German data on tap. USD recovery extends a bit - what now? AUDUSD at big support zone now after bout of weakness. MAJOR HEADLINES – PREVIOUS SESSION New Zealand RBNZ cut its Official Cash Rate for the first time in 5 years, by 25 bps, bringing the rate to 8.00% Japan Jun. Adjusted Merchandise Trade Balance out at ¥135.4B vs. ¥342.7B expected THEMES TO WATCH – UPCOMING SESSION Key Risk Events (All times in GMT) Germany Jul. Preliminary PMI Manufacturing and Services (0730) Germany Jul. IFO
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