NZD came under modest pressure during early....>

KIWI: NZD came under modest pressure during early Asia dealing as BBG reported

comments from RBNZ Gov. Orr, broadcast on Radio NZ, stating that the RBNZ's

"challenge now is to get inflation up, not down." This comes ahead of the RBNZ's

MonPol decision on Thursday, where analysts expect no change in MonPol. On the

decision the NZIER shadow board's view "remains firmly centred on no change to

the Official Cash Rate. The New Zealand economy is being buffeted by opposing

forces. The global economy is improving, and interest rates are lifting in the

major economies, led by the US. However, businesses have become more cautious

about investing in new plant and machinery and buildings here in New Zealand."

- NZD/USD last ~$0.6640, with the cross also pressured by a modest degree of USD

strength during Asia-Pacific dealing. NZD/USD has breached initial support

($0.6650), after feeling the pressure from the latest barbs of the U.S.-China

trade dispute & profit taking. The next level of support now lies at the high

from Sep 19 ($0.6623). Bulls look to $0.6700 which capped the pair on Friday.

- Outside of the RBNZ decision risk events this week include Wednesday's NZ

trade balance & ANZ Biz conf. releases & ANZ consumer conf. due Friday.