AUD/NZD took a nosedive yesterday,......>

AUSSIE-KIWI: AUD/NZD took a nosedive yesterday, driven by a bout of AUD sales

observed in London hours. The rate held losses through the rest of the day,

finishing 62 pips lower. It retained weakness into the Asia session, ebbing

lower alongside U.S. equity index futures. U.S. President Trump's sabre rattling

vs. China and previously flagged aspects of Apple's & Amazon's latest earnings

reports are likely the main factors weighing on sentiment in terms of news flow.

That said, the rate has already moved away from lows, towards unchanged levels.

- In local data, Australia's AiG M'fing PMI tumbled deeper into contraction,

with final reading of the CBA counterpart revised a touch lower. New Zealand ANZ

Consumer Confidence also took a severe hit from the coronavirus pandemic.

- The rate last sits at NZ$1.0624, barely changed on the day. Further losses

past the 23.6% retracement of the Mar 18 - Apr 28 rally at NZ$1.0574 would clear

the way to the key Apr 21 low of NZ$1.0484. Conversely, bulls need a jump above

Apr 28 peak at NZ$1.0752 to regain control.