The NZD/USD sits a little lower, at 0.8260, this morning. Yesterday afternoon the NZD/USD touched above 0.8320, before starting a gradual descent that extended overnight. Currency markets in general appeared somewhat lethargic last night after the excitement of last week’s US payrolls data. For today, NZD/USD resistance remains in the 0.8330-0.8350 window, while support is seen at 0.8230. There is a lack of US data releases this evening, so broad risk sentiment may be derived from the release of Chinese data (industrial production, fixed assets, retail sales) due early this evening. Signs of solidity in November could be sufficient to shore up improving global growth expectations and risk appetite generally. The ‘risk sensitive’ NZD/USD would be a beneficiary.
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