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Antipodeans were dumped with the New Zealand dollar, the biggest loser, after the NZ treasury downgraded GDP forecasts in the June quarter on softening domestic demand.
- China's economic slowdown worries also collaborated with the falling oil prices, dragging NZD lower
- A survey showed New Zealand business sentiment dropping to six-year lows in August on the back of tumbling global dairy prices, further blow to the Kiwi
- The New Zealand dollar is down -0.56% against the USD, trading at 0.6422, day's high was at 0.6466, and lows were at 0.6407
- The kiwi also fell against AUD and the euro with the trade-weighted index off 0.7 percent at 69.4, its lowest in nearly a month
- Immediate resistance for NZD/USD is seen at 0.6452 (Daily Tenkan-Sen), while support on the downside is located at 0.6407 (Session lows Aug 31st)
- Markets cautious as they await the key US NFP report which may influence the Fed decision due in the next two weeks.
