AUD/NZD has added 7 pips thus far,......>

AUSSIE-KIWI: AUD/NZD has added 7 pips thus far, extending on a 15 pip jump noted

in the NY/Asia crossover on the back of RBNZ Gov Orr's remark that the Bank's

recent easing bias is "the starting point" for deliberations of the new,

enlarged Monetary Policy Committee. The pair last sits at NZ$1.0444.

- Both Antipodean currencies are supported by the broader risk-on feel.

- Worth mentioning JP Morgan now expect the RBNZ to cut the OCR at both of its

May & June meetings. Their previous call suggested that the RBNZ would be on

hold through mid-2020.

- Also worth noting U.S. TR Lighthizer and U.S. Tsy Sec Mnuchin are in Beijing

for trade talks with their Chinese counterparts. Mnuchin speaks at typing, said

that negotiators had "a very productive working dinner last night."

- With the rate nearing the upper 1.0% 10-DMA envelope at NZ$1.0459, bulls look

for a break above before challenging the 100-DMA, located just ahead of the

psychological NZ1.0500 level. Meanwhile, bears eye the 50-DMA at NZ$1.0429,

which has limited losses thus far. Below here opens NZ1.0402, where the pair

bottomed yesterday.