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Kiwi Tad Weaker, Local Markets Closed

NZD

The kiwi dollar has shown some very marginal weakness at the start to the new week, with domestic markets closed in observance of the Queen's Birthday. Local headline flow was limited over the weekend.

  • NZD/USD trades at $0.6505, a touch lower on the day. From a technical perspective, bears look for a sell-off past Jun 2 low of $0.6461. Such a move would expose $0.6423, which limited losses on May 24 & 25. Bulls look for a jump above Jun 3 high of $0.6576, followed by the 50-DMA at $0.6593.
  • Focus turns to Friday, when StatsNZ will publish Q1 manufacturing activity data & May card spending figures.

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