AUD/NZD last sits at NZ$1.0509, 24......>

AUSSIE-KIWI: AUD/NZD last sits at NZ$1.0509, 24 pips higher on the day. The rate

managed to unwind the bulk of yesterday's drop as rhetoric accompanying the

latest RBA monetary policy decision put a bid into the Aussie.

- The RBA left its cash rate unchanged today, as was widely expected, but took a

slightly less negative view of the international economic environment and

reaffirmed its willingness to ease further if required, while pointing to the

lags of MonPol. The RBA also softened its rhetoric re: the labour mkt given the

latest, weak, monthly report.

- Earlier in the day, AUD/NZD briefly inched higher upon the release of wider

than expected Australian Q3 BoP current c/a surplus & in-line net exports

figure. As a reminder, Aussie Q3 GDP is due for publication tomorrow.

- A rally above the channel resistance at NZ$1.0524 would please bulls, turning

focus to the 200-DMA, which intersects at NZ$1.0574. Conversely, bears need a

fall under yesterday's multi-month trough at NZ$1.0473 before attempting a move

at the Aug 12 low of NZ$1.0454.