The New Zealand Dollar (NZD) made up ground against the US Dollar (USD) late in the week bouncing off 0.6070 levels to close a healthy 0.6170. Markets turned risk off over the weekend after the assignation attempt of ex-president Trump sending US yields higher. The kiwi traded lower through 0.6100 back towards 0.6040 as we kicked into Tuesday. NZ CPI for the second quarter ending June has come in at 0.4% from 0.6% in the previous quarter. Year on year has also been trimmed from 4.0% to 3.3% weaker than estimates of 3.5%. The NZD has rallied off the news strangely to the 0.6065 zone but will most likely settle lower over the day.
Current Level: 0.6074
Support: 0.6050
Resistance: 0.6150
Last week’s range: 0.6064- 0.6152