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NZ focus today falls on domestic labour........>

KIWI: NZ focus today falls on domestic labour market report, due to be released
at 2345BST. NZD/USD is steady at $0.6675 at typing.
- The rate climbed to a session high of $0.6682 in Tuesday's Asia-Pac hours,
before sliding into negative territory on softer than expected Chinese PMI data.
Recovery attempts on the back of broader USD weakness were capped at $0.6680 and
the pair faltered into the London fix before bouncing again and closing 9 pips
higher on the day.
- Worth noting NZ QV house prices, released after hours, accelerated to +2.7%
Y/Y from the multi-year low of +2.6% registered in March.
- The initial topside target is provided by the $0.6681-85 region, which has
capped gains since Friday. A break above would open up the 21-DMA, situated at
$0.6707. Conversely, a move through yesterday's low of $0.6655 would bring the
lower 1.0% 10-DMA envelope at $0.6593 into view.
- NZ building approvals are due on Thursday.

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