Eurozone Industrial Production s.a. (MoM) came in at -1.1% below forecasts (-0.6%) in December

Outlook is unclear; New Zealand Dollar (NZD) is likely to trade in a 0.5605/0.5675 range. In the longer run, for the time being, NZD is likely to trade in a range between 0.5595 and 0.5720, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.