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NZD clung to the coattails of AUD yesterday,...>

KIWI
KIWI: NZD clung to the coattails of AUD yesterday, shaking off early losses and
rising through the day as oil rebounded & risk appetite improved. NZD/USD ebbed
off highs late doors, perhaps as reports about a failed trial of an experimental
drug for Covid-19 were doing the rounds.
- BBG interviewed NZ FinMin Robertson this morning. He said that further
"substantial" support from the gov't is forthcoming, but added that off'ls will
need to be careful with spending. Border restrictions will remain "for a
significant period of time".
- NZD/USD trades flat at $0.6010, with bulls looking for a break above the
50-DMA/Apr 20 high at $0.6087/92 before taking aim at Apr 14 high of $0.6131.
Bears would be pleased with a dip through yesterday's low of $0.5911, towards
Apr 3 low of $0.5844.
- Looking ahead, next week's NZ data releases of note include Wednesday's trade
balance, Thursday's ANZ Business Confidence & Friday's ANZ Consumer Confidence. 

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