Kiwi crumbles as RBNZ knock rate path.........>

FOREX: Kiwi crumbles as RBNZ knock rate path expectations

-NZD sits at the bottom of the pile after the RBNZ pushed out expectations for a

rate hike from March 2020 to December 2020. As a result, NZD/USD slipped to

fresh multi-year lows, extending the losses to $0.6641, the lowest since early

2016. NZD bears now eye the $0.6467 fib support over the medium term for the

next leg lower.

-After being weighed on throughout the Asia session and European morning, GBP

recovered to trade broadly flat after EUR/GBP briefly slipped back below the

Gbp0.90 mark. Nonetheless, EUR/GBP remains higher by 1.2% on the week.

-CAD is (modestly) the strongest performer in G10 FX today, extending the upside

seen in the late US trading day and allowing USD/CAD bears to re-focus on the

100-dma at C$1.2963.

-USD is being led, rather than leading, so far today and DXY trades higher by

0.15%.

-US PPI and weekly jobless claims numbers are the highlights and Fed's Evans is

due to speak at 1700GMT.