The NZD/USD opens around 0.8080 this morning after a very quiet evening with London and New York closed for public holidays.
The NZD opens at current indicative levels: 0.8388 AUD, 0.6251 EUR, 0.5350 GBP, 81.65 JPY, and 0.8355 CAD.
The NZD/USD has found support around recent lows in the mid to low 0.80’s and while the underlying trend remains negative we could seen a short term bounce that could give importers a chance to get some forward cover before the Kiwi resumes downtrend.
Nothing to report on the domestic front today. Tonight the focus will be on US Consumer Confidence.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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