A poor result in the auction overnight: New Zealand Fonterra dairy prices fall 8.8%
More:
- Volumes offered and sold lowests since May 2013
- WMP (Wholesale Milk Powder) was even worse, down 9.6%
- The big fall is already prompting trader talk of a lower mile payout
So, we come in with a lower NZD.
Due on the calendar today:
2145GMT:
BoP Current Account Balance for Q4
- expected is -3.06bn, prior was -5.012bn
Current account GDP ratio for Q4
- expected is -3.3%, prior was -2.6%
NZD, initial resistance 0.7330/35, 0.7350 with support .... well ... 0.7280/85 if ya gotta buy it
