NZD traders - heads up for dairy auction during London time Tuesday

Plenty of action in the NZD/USD already today, with news earlier of the RBNZ tightening lending on property

Further property lending restrictions is being read by the market as increasing the probability of an RBNZ rate cut at their next meeting

Still to come, due at midday in London, the Global Dairy trade Auction.

The previous auction saw another fall, albeit tiny, in the index of dairy prices:

For the auction tonight, futures are suggesting a small rise (in the order of 1%)