Kiwi holds firm ahead of European markets open
The New Zealand dollar is leading the way once again
The more steady inflation data earlier is helping to give the kiwi a bit of a lift but I would also argue that buyers are also looking poised in trying to break above key daily resistance levels - similar to yesterday.
And that's helping to see NZD/USD hold higher around 0.6735 to begin the session.
There is little else of note in the major currencies space with narrow ranges prevailing for the most part. All other currencies are less than 0.1% changed against the dollar with EUR/USD holding in a 8 pips range between 1.1255-63.
It's that time of the year where the summer doldrums kick in but also as markets are a little bit indecisive awaiting for more direction from key central bank decisions at the end of this month. Next week, we'll have the ECB before the Fed delivers their decision on 31 July.
Markets are caught in the cross-fire of central bank, trade and political drama right now. As such, the lack of headlines on all fronts to start the week isn't helping. Let's see what the session ahead has to offer. Otherwise, expect more choppy trading to follow.
Reprinted from Forexlive，the copyright all reserved by the original author.
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