Kiwi Firms In Early Trade

NZD/USD sits slightly above opening levels, last +7 pips at $0.7033, after a sharp post-NFP rally seen ahead of the weekend. Further gains past Jun 25 high of $0.7095 would conclude the formation of a double bottom pattern. On the downside, focus falls on last Friday's low of $0.6948 and a break here would open up Jun 18 low of $0.6923, a key near-term support.

• Auckland average house price rose 2.6% M/M in June, according to the latest Barfoot & Thompson data, as "demand and competition for homes has never been higher and the number of homes we had for sale at the end of the month was down by a quarter on the number available at the same time last year."
• PM Ardern said Sunday's delivery of 150k Pfizer jabs will help keep the vaccine rollout "cranking along," adding that Pfizer confirmed that 1mn doses will be supplied this month.
• Labour MP Wall accused China of harvesting organs from political prisoners and using Uyghur forced labour, breaking ranks with her party colleagues, who have usually refrained from openly criticising China.
• The local calendar is fairly light this week, features ANZ Commodity Price Index (Monday) & NZIER QSBO (Tuesday).