The NZD is active already this morning, having dipped as low as 0.8348 in the early going (it may have been lower direct).

This headline is getting a bit of attention:New Zealand government minister quits over misconduct allegation three weeks before election

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Coming up at 2245GMT (1845 NY time):

Q2 Terms of Trade index

We already know the terms of trade have been falling for the kiwis (milk prices the biggie), so I can’t see this as being too much of a surprise.

  • expected is -3.5% q/q
  • prior was +1.8%