1st rise in 4 auctions
The global dairy trade price index rose 3.6% in the current auction. The average price extended up to $3092. The gain was the 1st since the week of July 7 (4 straight declines).
The NZDUSD is higher on the day, but off the highest levels. The high price for the day extended briefly above the September 4 high price at 0.67347. The high for the day reached 0.67356 before rotating back to the downside. There is trendline support near the 0.6702 level (see chart below).
