The New Zealand dollar is slightly weaker this morning when valued against the Greenback, down 0.17 percent in the last 24 hours, reaching a low of 0.6744. Overnight we saw risk-off moves as European and UK officials are pessimistic about the chances of a breakthrough in Brexit talks. The Euro currency suffered one of its worst day’s as the ECB significantly cut its growth and inflation forecasts and shifted out the timing of any policy tightening measures.
On the release front today, we saw quarterly Manufacturing Sales which came in at -0.5 percent. Looking ahead tonight and all eyes will be on the US employment report will be the key focus for the market, which is expected to show robust employment growth.
From a technical perspective, the NZD/USD pair is currently trading at 0.6754. We continue to expect support to hold on moves approaching 0.6740 while now any upward push will likely meet resistance around 0.6800.