The opening of this week's trading saw the NZD fare more losses due to a soft economic data release; building permits fell as well as the ANZ business confidence, which will reignite the possibility of interest rate cuts.
The euro is looking towards the release of CPI results at 10:00 GMT. This is expected to fall to 0.9% from the previous 1%. If CPI does fall it will heighten the chances of a possible expansion of stimulus within the ECB at the next policy meeting. This will weigh on the euro, causing it to drop.