NZD/USD and AUD/USD weakened -- ignoring positive news events, such as reports of a move toward a ceasefire in the Middle East, encouraging US housing data and a successful Spanish debt auction. Given the positive news flow, which would normally support higher-yielding assets, AUD and NZD performance "was disappointing and suggests further weakness in the currencies today," Westpac says in a note. It adds that Australia's leading index and NZ credit card spending are the only releases due Wed, although markets will also be watching for headlines on Greece. NZD/USD is at 0.8153 vs 0.8187 late Tuesday in NZ. Westpac says the pair is likely to move toward 0.8050. AUD/USD is at 1.0369 vs 1.0408 late Tuesday in Sydney. Westpac says a test of 1.0350 is expected Wednesday.
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