The NZD/USD has traded a path between 0.8090 and0.8135 over the past 24-hours, sitting at 0.8110 at present. There was a reasonable amount of volatility in theNZD/USD overnight as it was tossed around by Northern hemisphere data releases. It spike above 0.8130 after therelease of a disappointing US ISM (see Majors). However,it soon returned to trade at 0.8110. We continue to see thisas the lower end of its range. The release of a strong NZlabour market report tomorrow, and a solid US payrollsreport at week end would be the likely catalysts to see theNZD/USD end the week higher within its 0.8100-0.8400range.
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