NZD/USD keeps the red above 0.5900 after NZ budget, downside seems cushioned

  • The NZD/USD pair extends the previous day's late pullback from the 0.5965-0.5670 area, or a one-week high, and attracts some follow-through selling during the Asian session on Thursday. Spot prices drop to the 0.5920 region, or a fresh daily low after New Zealand's Budget release, though the downside remains cushioned amid the prevalent US Dollar (USD) selling bias.