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Nudges Lower In Asia-Pac Morning

NZD

NZD/USD round tripped from an intraday low of $0.6879 Thursday before taking a dip into the close on the back of a clash between U.S. Tsy & the Fed over the central bank's emergency lending facilities.

  • The rate has shed a handful of pips in early trade, as a degree of caution carried over into Asia. NZD/USD last changes hands -6 pips at $0.6909, with bears looking for a move through Nov 17 & 18 lows of $0.6876. A breach of those levels would shift focus to Nov 13 low of $0.6811. Bulls need a rally above Nov 18 high of $0.6945 before targeting the $0.7000 mark.
  • New Zealand releases credit card data later today. Next week, focus moves to retail sales (Monday), trade balance (Thursday) & ANZ Consumer Confidence (Friday). On Wednesday, the RBNZ will release its FSR, which will be followed by a press conference with Gov Orr.
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