AUD/NZD has traded in an................>

AUSSIE-KIWI: AUD/NZD has traded in an ever-narrower range since the beginning of

the week. It currently sits at NZ$1.0340, 11 pips higher on the day, holding

near the recent multi-month lows. All eyes are on Australian Q4 CPI data, due

within a couple of minutes.

- Antipodean central bank decisions are approaching, with markets pricing a ~20%

chance of an interest-rate cut from the RBA, while putting the odds of a cut

from the RBNZ at ~7%. The RBA meet first and will deliver their MonPol decision

on Feb 4. Their colleagues from across the ditch meet on Feb 12.

- A jump above the Jan 27 peak at NZ$1.0357 would please bulls, bringing the

21-DMA at NZ$1.0382 into play. Bears need the Jan 27 multi-month low of

NZ$1.0308 to give way before they can target NZ$1.0265, the trough of Aug 6.