NZD tracked its Antipodean cousin on a.........>

KIWI: NZD tracked its Antipodean cousin on a sudden jerk higher in Wednesday's

Asia-Pac session. That being said, NZD/USD promptly pared gains and after

another brief spell of relative strength sold off into the close, giving up all

of the earlier gains.

- The rate is little changed at $0.5949 in early Asia-Pac trade today. A fall

below $0.5922, where the rate bottomed out on Apr 16, is needed to bring Apr 3

low of $0.5844 into view. On the flip side, a break above Apr 20/50-DMA at

$0.6092/94 would clear the way to Apr 14 high of $0.6131.

- NZ FinMin Robertson told Newstalk ZB this morning that the government is

looking to ramp up its response to the coronavirus crisis, possibly via direct

cash handouts. He added a caveat though, pointing to "helicopter money" being

"not particularly targeted". The government will "look at all the options for

stimulating the economy".

- New Zealand's credit card spending data comes out later today.