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NZD Bottom Of The G10 Pile

NZD

The combination of a dent for broader risk appetite and another monthly trade deficit for New Zealand is weighing on the kiwi, with NZD/USD sitting at ~$0.6725, 25 pips softer on the day. Bears remain focused on the Dec 15 low ($0.6702), while bulls need to regain the Dec 1 high ($0.6868) to start turning the tide back in their favour. The monthly credit card spending data (Tuesday) and consumer confidence (Wednesday) provide the domestic focal points on the NZ docket during the remainder of the week, which will likely leave broader risk appetite at the fore ahead of the Christmas break.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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