A dovish turn in rhetoric surrounding the......>

KIWI: A dovish turn in rhetoric surrounding the latest RBNZ MonPol decision made

NZD tumble across the G10 currency board. Although the central bank left its OCR

unch. at 1.75%, it said that the "most likely direction" for the next rate move

is down. The RBNZ also noted that "the balance of risks to the outlook has

shifted to the downside," amidst soft domestic biz. sentiment and deteriorating

global environment. For our REVIEW piece see MNI Main Wire at 02:10 GMT 03/27 or

contact sales@marketnews.com for access.

- NZD/USD last trades at $0.6802, 105 pips lower on the day. The pair has

already tested the water below the psychological $0.6800 level and bears

continue to look for a clean breach of the figure, before challenging the

200-DMA at $0.6737. Conversely, bulls look for a return above the 100-DMA &

50-DMA, located at $0.6812 and $0.6827 respectively, after the rate dived

through these levels post-RBNZ.

- NZ focus turns to ANZ business confidence survey due tomorrow, as well as

building permits due Friday. Thursday and Friday will also see the resumption of

ministerial-level trade talks between the U.S. and China.