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Kiwi Softens In Early Trade, Trans-Tasman Travel Bubble Opens

NZD

NZD/USD has slipped at the start to this week, extending last Friday's losses, and last trades -12 pips at $0.7131. Broader risk aversion seems to be in play here, as e-minis have edged lower from the off.

  • The trans-Tasman travel bubble is now operational and first passenger flight already took off from Sydney. NZ & Australian PMs issued a joint statement hailing the deal as a "win-win for Australians and New Zealanders."
  • Bears would be pleased by a dip through Apr 7 low of $0.6997, which would clear the way to Apr 1/Mar 25 lows of $0.6946/43. On the flip side, a jump above Apr 15 high of $0.7180 would bring Mar 18 high of $0.7269 into view.
  • New Zealand's PSI comes out at the bottom of the hour (last reading was 49.1). Later in the week, focus moves to Wednesday's CPI report & Friday's credit card spending data.
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