The NZD is little changed at $0.7962 vs $0.7964 U.S. close after making small gains in the overnight session as the AUD and the EUR rose. The currency posted small losses after NZIER’s quarterly business survey showed a drop in business confidence and expected activity but recovered quickly. Electronic card spending data for June was in line with expectations, though the rise in core spending still provided a small boost to the NZD. BNZ forex analysts say they expect generally muted risk appetite to contain the NZD in the week ahead. The currency is likely to struggle to sustain bounces above $0.8000 but a bigger risk is for a pullback towards support at $0.7870, they say.
EasyForexNews Research Team