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Off Lows But Holding Under 0.72 Handle

NZD

The kiwi is slightly higher in Asia trade on Tuesday, NZD/USD last up 6 pips at 0.7168 after falling as far as 0.7147 on Monday.

  • The greenback has continued to strengthen, driven by higher real yields and political theatre in the US with US House Speaker Pelosi saying last night the House intends to bring impeachment action against Trump this week.
  • New Zealand has indicated intentions to tighten the Covid-19 containment measures, almost all arrivals at the border will now be tested (Australia and pacific islands are the exceptions) and there will also be a new pre-departure test requirement.
  • There is no domestic data on the economic docket today, and it remains thin for the rest of the week. ANZ Truckometer Heavy and ANZ Commodity Price data is scheduled for Wednesday, Building Permits data are slated for Thursday and Food Prices will close out the week on Friday.
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