AUD/NZD last trades at NZ$1.0428, 2.....>

AUSSIE-KIWI: AUD/NZD last trades at NZ$1.0428, 2 pips higher on the day, after

dropping 22 pips Thursday, as an initial leg higher, caused by strong labour mkt

data coming from Australia, was followed by a decline on the back of Westpac's

decision to revise its RBA rate call & a RTRS source story stating that Chinese

Dalian customs banned coal imports from Australia. The pair recovered somewhat

towards the end of the day, as Australian Treasurer Frydenberg poured some cold

water on worries re: Sino-Australian trade tensions.

- Worth mentioning RBA Gov Lowe has noted that it is "unlikely that rates will

go up this year."

- The initial bullish target is provided by the 21-DMA at NZ$1.0470 and a break

above would shift the upside focus to NZ$1.0490, where the rate peaked

yesterday. Conversely, bears target the psychological NZ$1.0400 level before

challenging the Feb 14 low of NZ$1.0369.