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Kiwi Slips, Domestic Markets Closed

NZD

The kiwi dollar has lost some altitude, extending its retreat from the back end of last week. New Zealand financial markets are shut in observance of the ANZAC Day, but broader risk backdrop remains a tad negative, sapping strength from high-beta currencies.

  • NZD/USD trades -9 pips at $0.6629, away from a session low of $0.6621. Further sales past Feb 14/4 lows of $0.6593/90 would bring Jan 28 low of $0.6530 into view. Bulls need a rebound above Apr 20 high of $0.6813 to get some reprieve.
  • Local data highlights this week include credit card spending (Tuesday), trade balance & ANZ Business Confidence (Thursday) as well as ANZ Consumer Confidence (Friday).
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