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Price Signal Summary - Evening Star Reversal In Gilts?


Bund put spread buyer


Put spread bought again

KIWI: A handful of mixed U.S.-China headlines drove yesterday's fluctuations in
NZD/USD. The rate sold off initially after U.S. Congress passed a contentious
Hong Kong bill, but regained poise as BBG reported that Chinese VP Liu expressed
cautious optimism re: phase-one trade talks with the U.S. The rest of the day
saw participants read through conflicting news stories on U.S.-China relations.
NZD/USD rose to the intraday high of $0.6437, touched around London noon, before
sliding into negative territory.
- NZD/USD trades flat at $0.6402. A dip under the trendline support at $0.6360
would open up the 50-DMA, which intersects at $0.6346. Conversely, a move above
the 100-DMA at $0.6428 would allow bulls to set their sights on the Nov 4 high
of $0.6466.
- Looking ahead, the NZ calendar for next week features retail sales ex
inflation (Tuesday), trade balance (Wednesday), ANZ biz. confidence (Thursday),
as well as ANZ consumer confidence and building permits (Friday). The RBNZ will
publish its FSR on Tuesday, which will be followed by a presser with Gov Orr.
MNI London Bureau | +44 203-865-3806 |