New Zealand releases its 1Q CPI data in the Wednesday session, an important report, and one that can be a catalyst for some moves in the NZD/USD pair. While inflation is expected to be fairly muted, and therefore is not a major concern for the RBNZ, a positive surprise can help give the Kiwi strength and push it towards 0.8230. A weaker than expected report meanwhile, can cause the pair to break its recent support and target 0.8120. A rise of 0.6% on the quarter should actually see prices in annual terms fall to 1.6% from the 1.8% reading seen in the 4Q. That is well within the RBNZ inflation target between 1% and ... (full story)