Experts say that the New Zealand dollar is likely to fall further against its Australian counterpart after it fell to the level of 79.17 Australian cents at 5pm in Wellington.

The NZ national currency was recorded at 79.35 cents on Friday in New York. On the other hand, the currency was trading at 82.94 US cents from 83.02 cents his morning. The Kiwi, as it is popularly known, was trading at 83.13 cents against the American currency in the previous week.

It is believed that the Australian dollar may extend its lead as the government data is likely to show that the consumer spending ahs grown in the country and its major partner, China is on the path of recovery and prospects of a slowdown in the world's second largest economy is minimized. The Australian dollar may be boosted by higher spending data and as well as positive Chinese data.

Dealers said that New Zealand dollar may further extend its decline to 78.75 Australian cents as the Australian currency outperforms its counterpart in the coming days. On the other hand, the currency may gain against the US dollar as traders resume regular service after the abbreviated Christmas and New Year.