Kiwi Recoups Early Losses

NZD/USD opened a touch lower, pressured by aforementioned risk-off factors,
but has already recouped losses. Although focus remains on Sino-U.S.
tensions and U.S. fiscal matters, key broader picture catalysts,
NZD/USD last operates +7 pips at $0.6648.

• The RBNZ published new residential mortgage lending data for June, with
  total lending rising to NZ$5.36bn from NZ$4.32bn, recorded the prior month.
• On Sunday, a new Reid Research/Newshub poll showed support for the main
  opposition National Party plummet to 25.1% from 30.6%, with the ruling
  Labour Party rising to a record 60.9%.
• Bullish focus falls on $0.6690, which represents the multi-month high printed
  on Jul 23. A break here would open Dec 31, 2019 high of $0.6756. Bears
  look for a drop through Jul 15-20 lows clustered in the $0.6532-28 area,
  before turning focus to Jul 14 low of $0.6503.
• NZ building permits & final ANZ Business Confidence are due
  Thursday, with ANZ Consumer Confidence coming up Friday.