NZD CPI data came out better than expected at down to 1.2% on a quarterly basis from 1.5 forecasts. But the previous reading was 1.4%. So number beat expectations by a lot, thus there is less chance for a new hawkish surprise by RBNZ on their upcoming meetings. As a result, NZD is coming down breaking support after a trendline has been retested as resistance. We see room for 0.6083-0.61, especially if stocks will remain weak. We see SP500 futrues falling out of a wedge.
