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AUD/NZD has dropped 15 pips in early....>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has dropped 15 pips in early Asia-Pac trade and last sits
at NZ$1.0549, with AUD modestly underperforming all of its G10 peers and NZD
giving way only to the yen. 
- Early Asia-Pac hours saw the NZ gov't publish its financial statement for the
5 months to Nov 30. The report indicated a budget surplu of NZ$261mn against an
expected deficit of NZ$88mn. Meanwhile, the AU Westpac consumer confidence index
slipped into negative territory for the first time since Nov 2017. 
- Bears look for a clean break below the Jan 10/11/7 lows at NZ$1.0546/44/42
before challenging yesterday's low of NZ$1.0536, followed by the 21-DMA at
NZ$1.0524. On the topside, attention is drawn by yesterday's peak at NZ$1.0568,
just ahead of the 50-DMA at NZ$1.0572.

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