NZD/USD loses the 0.6700 level as investors recoil on slowing trade figures

• Kiwi down on Asian session risk aversion.
• Trade risks for the Pacific sector continue to sap confidence out of the Antipodeans.

NZD/USD is accelerating towards the downside as traders pick up the Greenback to kick off 2019, sending the Kiwi down into 0.6685 on withering risk appetite.

New Zealand markets are shuttered for Day after New Year’s celebrations, but an absence of Kiwi operators is only seeing the pair slip faster, declining from the day’s early market highs of 0.6724. Risk appetite in 2019’s first Pacific-Asia session is taking a step down after China’s manufacturing PMI for December showed contraction for the first time since early 2017, and traders are stepping back from risk=based bets to mark the open of 2019.

New Zealand markets will also be on the lookout for results from the Global Dairy Trade auction due sometime in the midday, but a lack of meaningful US data for Wednesday will see markets focusing on the usual gamut of trade-related headlines.

NZD/USD Technical Levels