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Kiwi Advances Wednesday, Northland Set To Move To Lower Alert Level

NZD

NZD/USD ground higher Wednesday as NZD gained alongside its Antipodean cousin AUD. The rate rose to its best levels since Aug 4 and approached its 100-DMA, but failed to attack that moving average.

  • Interest.co.nz reported that ASB today raised fixed home loan rates for terms of 3 to 5 years. ASB is New Zealand's second largest mortgage lender.
  • Northland is set to leave alert level 4 at midnight today and join areas south of Auckland at level 3. The final decision depends on the results of latest tests, but officials have struck optimistic notes.
  • New Zealand's terms of trade index for the second quarter headlines the local economic docket today.
  • NZD/USD last sits at $0.7069, little changed on the day, with the 100-DMA/Aug 4 high at $0.7085/89 drawing bullish attention. Above there would bring Jul 6 high of $0.7105 into play. Bears look for a dip through Aug 30 low & 50-DMA, which coincide at $0.6987.

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