NZD/USD is grinding lower towards 0.60. Global risk sentiment and the strong USD continue to weigh on the kiwi, ecoomists at Westpac report.

NZ CPI next week could cause a minor bounce

“NZD/USD is grinding lower towards the 0.60 area, where we expect some congestion.”

“The main drivers of NZD/USD at present remain global risk sentiment and the US dollar, with both arguing for further NZD/USD downside during the week ahead at least.”

“NZ CPI data next week could follow the global script, and beat expectations, which would support the NZD on the day.”