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NZD/USD Hovers Above Its Oct Low

KIWI

NZD/USD went offered Tuesday, following a round of comments from RBNZ Gov Orr, but hopes for progress in U.S. fiscal negotiations helped the rate recover over the WMR fix. It eased off thereafter, finishing below neutral levels.

  • Newshub reported that the Labour Party will not form a formal coalition with the Green Party and will prefer to opt for a lower-level support agreement. The report didn't specify the source of the information.
  • The rate holds steady at $0.6580 and a dip through Oct 20/8 lows of $0.6553/47 would shift focus to Sep 24 low of $0.6512. On the flip side, a jump above Oct 19 high of $0.6646 would bring Oct 14 high of $0.6682 into play.
  • New Zealand's credit card spending comes out Wednesday, with CPI coming up Friday.
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