July 31, 2022 23:07 GMT
NZD/USD has edged higher in morning trade, looking past disappointing official PMIs released out of China over the weekend. Local news flow has offered little of real note.
- The kiwi defies a warning sign from e-mini futures, which have slipped into the red in Asia, after last week's final Wall Street session saw benchmark indices extend weekly gains.
- The rate last trades +7 pips at $0.6285 at typing. Bulls look for a break above last Friday's high of $0.6329 before targeting Jun 16 high of $0.6396. On the flip side, bears keep an eye on Jul 14 low of $0.6061.
- The first instalment of the government's "cost of living" scheme will be paid today to all eligible New Zealand tax residents, including an unknown number of people living overseas.
- The main point of note in New Zealand this week will be Wednesday's labour force survey.