NZD

New Zealand Q4 inflation data due tomorrow - preview

• CPI is expected lower than the Reserve Bank of New Zealand's most recent forecast

New Zealand December services PMI 48.8 (prior 51.2)

• New Zealand Performance of Services Index

Reserve Bank of New Zealand to consult on loosening (macroprudential) policy

• The RBNZ is proposing easing back on lending restrictions a little

NZDUSD trade near lows but remains above a key cluster of support

• The support area comes between the 50% midpoint at 0.60716, and the 200-day moving average at 0.6089. A swing area sits between those levels at 0.60788 – 0.60856.

USD a touch weaker in Asia moring trade, AUD & NZD lead

NZDUSD falls to support and consolidates. Sets up the battle for control next week.

• NZDUSD consolidates near strong support at 0.6071 to 0.60897, setting the stage for a crucial week ahead.

Dollar fails to seal the deal against the commodity currencies this week

• It was promising from a technical standpoint, all before the turnaround started yesterday

New Zealand data - December manufacturing PMI plunges to 43.1, from 46.5

• In contraction for ten consecutive months

NZDUSD tests, but can't break a cluster of support

• The 0.6071 to 0.60901 area is a key support target for the NZDUSD. In this video, I outline the support and show what needs to be done to increase a bullish bias after the sharp fall this week.

New Zealand December Food Price Index -0.1% m/m (prior -0.2%)

New Zealand December house prices -0.7% y/y -- REINZ

• New Zealand house price data

NZDUSD Technical Analysis

• The NZDUSD pair breaks a key support zone and extends the decline. What’s next?

New Zealand retail sales slammed lower in December

• So much for Christmas shopping, electronic retail card spending dropped 2% December

The NZDUSD falls below the 38.2% retracement giving sellers more control.

• Can the price of the NZDUSD stay below the retracement level now?

The antipodean currencies fall to fresh five-week lows against the dollar

• The greenback is on a tear in trading so far today, with the more subdued risk mood adding more pressure to the antipodean currencies