NZ CPI: Market expecting -0.2% in December

It’s been a quiet night in the FX markets with the US closed for a public holiday.

The first event on today’s calendar will be the NZ CPI number for December, with most of the big banks expecting a number close to -0.2% for December.

Most interest in the spot market will be on the AUD/NZD cross. If it breaks back above 1.0730 it’s likely to trigger some heavy-ish trailing stops and certainly stall recent momentum.

Good luck today.