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Ardern & Collins Prepare For Debate, Stats NZ Revises Participation Rate

KIWI

NZD/USD edged higher on Monday, even as the kiwi struggled against most of its G10 peers, with broad-based greenback sales driving the move. Optimism over U.S. fiscal matters & U.S. Pres Trump's release from hospital helped keep the rate afloat.

  • The Press will host another leaders' debate this evening. Labour leader Ardern and National leader Collins will take part in a town-hall style event at 19:00 NZDT.
  • RBA decision & FY20/21 Budget across the Tasman will also provide some interest today.
  • Statistics New Zealand revised participation rate for Q2 to 69.9% from the initially reported 69.7% and added 67k workers to the reading of total employment, following revisions to population estimates. This didn't affect the unemployment rate.
  • The rate closed above its 50-DMA yesterday, after flirting with that level for three consecutive days. It last trades + 4 pips at $0.6650, with bulls awaiting a move towards the multi-month high of $0.6798, printed on Sep 18. Bears need a fall through the 100-DMA at $0.6545 before targeting Sep 24 low of $0.6512.
  • Looking ahead, preliminary ANZ Business Confidence comes out on Thursday.
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