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Forex pairs in this Article » NZD/USD (Barcelona) - The local New Zealand event calendar is busy with releases( of low-level importance for markets. On Tuesday we have the quarterly business confidence survey, electronic spending and house prices; Thursday has food prices, PMI and monthly consumer confidence, while Friday has BZGB offshore holdings, and sometime during the week there is the REINZ housing data. Also worth noting is the full-year NZ government financial statement. According to Global Markets Strategist Sean Callow at Westpac, "None of the above should significantly impact the NZD."

The NZDUSD is currently testing the first of two important support levels, being 0.8180 and 0.8130. "Should these give way, we would be compelled to switch to a bearish stance, despite domestic fundamentals being supportive for the NZD over the medium-term. The NZD is being dragged lower by the AUD, which has the weight of RBA dovishness and softening fundamentals to contend with." Callow adds.
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