The New Zealand Dollar (NZD) is back up around the 0.5600 mark this morning against the US Dollar (USD) after bottoming out from the weeks open to 0.5515 after global sentiment towards Trump’s tariff wars went down like a “cup of cold sick”. Volatility went through the roof seen early Monday when the kiwi “gapped off Friday’s close at 0.5630 to 0.5590. The fresh low marks the lowest monthly close (January) since early 2003. New Zealand will at some stage come under attack from Tariff fallouts within time impacting the economy and the value and demand of our exports. Data focus this week is NZ Unemployment with a further rise from 5.1% predicted. Buy the spike, sell the dip.
Current Level: 0.5629
Support: 0.5540
Resistance: 0.5700
Last week’s range: 0.5621 – 0.5704