Kiwi outperforms in early Asia-Pacific.........>

KIWI: Kiwi outperforms in early Asia-Pacific trade, after the release of NZ Q4

GDP data, which revealed that the econ growth accelerated to +0.6% Q/Q from the

prev. +0.3% (albeit decelerating to +2.3% Y/Y from +2.6%). The Q/Q measure met

both the economists' and Tsy Dept's forecasts, but fell short of the RBNZ's exp.

of +0.8%, and yet seemingly countered worries that the RBNZ might cut its OCR

this year. NZD/USD last trades at $0.6916, 34 pips better off.

- On Wednesday, the pair added 28 pips, as it spiked ~70 pips higher on the back

of the FOMC's dovish turn, before halving gains. As a reminder, while holding

its MonPol settings unch., the FOMC signalled that it will stand pat on rates

through 2019 and that it now sees one hike in 2020. It also trimmed its GDP

growth forecasts for 2019 and 2020.

- Muted reaction was noted after hawkish comments from U.S. Pres Trump re: trade

relations with China.

- After the rate touched a fresh monthly high of $0.6924 today, bulls look for a

break above before challenging the YTD high of $0.6942. Meanwhile, bears look

for a fall below the 21-DMA at $0.6835, hoping to gain some momentum.