The New Zealand Dollar (NZD) has moved off lant week’s high at 0.4740 (2.1100) to post 0.4685 (2.1350) last night against the British Pound (GBP) as risk currencies were hit hard off the back of US jobs data. Overnight trading improved the kiwi slightly to 0.4710 (2.1240) as sentiment corrected. UK Construction came in light at 53.6 vs 54.6, despite this the number was seen as positive with sustained increase to business output although the pace of expansion will take time. UK Monthly GDP prints Friday with growth of 0.2% expected considerably better than July’s 0.0%. Risk flows will decide direction in the cross this week.
Current Level: 2.1299
Resistance: 2.1470
Support: 2.1000
Last Weeks Range: 2.099- 2.1297