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