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Kiwi dollar little changed

NZD - New Zealand Dollar

The New Zealand dollar is slightly stronger this morning when valued against the Greenback. The Kiwi reached an overnight high of 0.6680 on the back of strength in US equities. The Kiwi traded within a 25 pip range in the last 24 hours.

Looking ahead today on the release front we will see the release for April's ANZ Business Confidence, seen worsening to -42.8 from -38.0 previously.

From a technical perspective, the NZD/USD pair is currently trading at 0.6668. We continue to expect support to hold on moves approaching 0.6650 while now any upward push will likely meet resistance around 0.6680.

Key Movers

The Greenback fell against a basket of currencies on Monday, slipping further from a 23-month high, as Japan began its extended Golden Week holiday. All eyes this week will be on the US central bank’s policymaking board meeting on Tuesday and Wednesday. Followed by the release of U.S. payrolls report on Friday which is forecast to show a solid increase of 185,000 jobs in April, with unemployment at 3.8%.

Expected Ranges

NZD/AUD: 0.9350 - 0.9550 ▼

NZD/CAD: 0.8850 - 0.9050 ▼

NZD/EUR: 0.5850 - 0.6050 ▼

NZD/GBP: 0.5050 - 0.5250 ▲

NZD/USD: 0.6550 - 0.6750 ▲