AUD/NZD has crept higher as Chinese.....>

AUSSIE-KIWI: AUD/NZD has crept higher as Chinese FinMin Liu Kun unveiled plans

to add some fiscal stimulus, while cutting unnecessary government expenditures.

In addition, Chinese state TV cited a Wuhan hospital head as saying that the

epidemic may have reached a turning point. Meanwhile, NZ PM Ardern said at a

press conference that NZ Treasury sees 2020 growth at +2.0-2.5% Y/Y vs. the

previously projected +2.2-2.8%, amid the Covid-19 outbreak. A marked improvement

in NZ services PMI has failed to prevent NZD from losing ground.

- AUD/NZD sits at NZ$1.0456, 26 pips better off. Bulls look at the Feb 11 high

of NZ$1.0506 as their initial target. A break here would expose the 38.2%

retracement of the Nov 7 - Jan 27 slide at NZ$1.0521. Bears would be pleased by

a drop below the 50-DMA at NZ$1.0406, which would shift the focus to the Feb 10

low of NZ$1.0390.