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Quiet Start With NZ On Holidays

NZD

NZD crosses are little changed in early trade, with markets in New Zealand closed for a public holiday. NZD/USD last sits at $0.7212, just shy of neutral levels, unfazed by weekend comments from U.S. Tsy Sec Yellen, who noted that higher interest rates would be a "plus".

  • Bears keep an eye on Jun 3 low of $0.7126, also last week's trough. A break here would clear the way to the nearby May 4 low of $0.7116. Conversely, a jump above Jun 1 high of $0.7288 would bring May 26 high of $0.7316 into play.
  • New Zealand's economic docket this week features quarterly m'fing activity & flash ANZ Business Confidence (Wednesday), card spending (Thursday) & BusinessNZ M'fing PMI (Friday).

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