The New Zealand dollar weakened against the other major currencies in the Asian session on Monday, after data showed that the country's consumer confidence declined in the fourth quarter of 2014.
Data from the Westpac and McDermottMiller showed that the consumer confidence index dropped to 114.8 in the fourth quarter from 116.7 in the third quarter. This marked the lowest reading in over a year.
The present conditions index, measuring the outlook on current conditions, fell to 111.4 from 113 in the previous quarter.
The expected conditions index, measuring the outlook for the future, slid to 117.2 in the fourth quarter from 119.3 in the third quarter.
Last Friday, the NZ dollar rose 0.37 percent against the U.S. dollar, 0.64 percent against the yen, 0.15 percent against the euro and 0.02 percent against the Australian dollar.
In the Asian trading today, the kiwi fell to 4-day lows of 92.07 against the yen and 1.5844 against the euro, from last week's closing quotes of 92.40 and 1.5786, respectively. If the kiwi extends its downtrend, it is likely to find support around 89.82 against the yen and 1.61 against the euro.
Against the U.S. and Australian dollars, the kiwi depreciated to 4-day lows of 0.7713 and 1.0550 from last week's closing quotes of 0.7728 and 1.0507, respectively. On the downside, 0.76 against the greenback and 1.07 against the aussie are seen as the next support levels for the kiwi.
Looking ahead, Bank of Japan monthly report is set to be published in the Asian session.
Germany's import price index for November is due to released at 2:00 am ET.
In the European session, Swiss National Bank is set to publish its monthly statistical bulletin.
At 4:30 am ET, Bank of England releases the minutes of Financial Policy Committee's recent meeting.
In the New York session, Eurozone flash consumer sentiment for December and U.S. existing home sales data for November are due to be released.
The material has been provided by InstaForex Company – www.instaforex.com