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PM To Announce Update On New Zealand's Alert Level

KIWI

NZD/USD has edged higher as e-minis trade on a slightly firmer footing. The rate operates +4 pips at $0.6670 as we type.

  • PM Ardern will announce the latest alert level decision today at 13:00 NZST, before returning to the campaign trail.
  • According to the migration data for July released this morning, New Zealand recorded its first net monthly departure since May 2013.
  • New Zealand's Performance of Services Index returned into contraction, as it fell to 46.9 from 54.4 in August.
  • Above Sep 4 high of $0.6735 would turn focus to Sep 2/Jul 19, 2019 highs of $0.6789/91, key near-term resistance. Bears need a slide through the 50-DMA at $0.6621 before taking aim at Sep 9 low of $0.6601.
  • Looking ahead, Westpac Consumer Confidence comes out on Tuesday, BoP data hits on Wednesday and GDP is due Thursday.
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