Soft Start, Docket Thin This Week

NZD/USD has see-sawed around the $0.62 handle in early trade on Monday, the pair is ~0.2% below opening levels as some of last week's gains are trimmed.

• On Friday Kiwi was volatile as Fed-speak from NY President Williams noted that the FOMC isn't thinking about rate cuts right now and it is premature to think about the timing of easing. NZD/USD fell below the $0.62 handle as the USD firmed.
• Support was seen and losses were erased as the NASDAQ firmed on Friday to close at an all time high which boosted risk sentiment.
• The uptrend in NZD/USD is firmly intact, bulls target a break of the high from 14 Dec ($0.6249) which opens the $0.63 handle. Support comes in at $0.6127 (20-Day EMA).
• On the wires this morning Q4 Westpac Consumer Confidence rose to 88.9, the prior read was 80.2. November PSI ticked higher to 51.2, the prior read was revised higher to 49.2 from 48.9.
• Looking ahead the docket is thin this week with just November Trade Balance, Dec ANZ Business Survey and December ANZ Consumer Confidence due.