After rising in the previous two sessions, the New Zealand dollar declined around 0.60 on Monday as the dollar index rose beyond 106 amid escalating Middle East concerns. Hundreds of Israelis were killed in the massive surprise onslaught by Gaza militants on Israel on Saturday, 

which sparked a deadly backlash from Israeli aircraft and an official declaration of war on Sunday.

Additionally, traders were wary ahead of the Pacific nation's general election on Saturday, October 14.


Meanwhile, the RBNZ suggested a lackluster economic outlook last week, in part because of high global oil prices,

And last week prolonged a halt in interest rate rises for the third straight meeting at 5.5% after a total 525bps increase since last 2021.

Losses were contained by the Chinese market's reopening following the Golden Week holidays, 

Which coincided with indications of a spike in spending and active travel and leisure activities.

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