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Round Trip

NZD

NZD/USD round tripped from its intraday high of $0.6970 Tuesday, as participants weighed elevated oil prices against a mix of familiar concerns. There was little in the way of domestic headlines to move the kiwi around. The rate finished just a handful of pips below neutral levels.

  • New Zealand's food price index rose 0.5% M/M in September after a 0.3% gain registered in August.
  • The RBNZ said they are seeking feedback on a consultation document re: its enforcement framework.
  • New Zealand's flash ANZ Business Confidence headlines today's data docket. Looking further afield, BusinessNZ M'fing PMI will hit the wires on Friday.
  • NZD/USD trades flat at $0.6933, with bears looking for a dip through Oct 6 low of $0.6877 would shift focus to $0.6860, which limited losses on Sep 29 & 30. Conversely, a jump above Oct 4 high of $0.6982 would expose the 50-DMA at $0.7003.
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