NZD/USD advanced since the London midnight,....>

KIWI: NZD/USD advanced since the London midnight, topping out at $0.6614, as

risk assets were bid. However, the rate eased off thereafter, as today's

ministerial Sino-U.S. trade negotiations concluded without any breakthrough and

the U.S. raised tariffs on China, as planned, with Beijing pledging retaliation.

This prompted NZD/USD to erase its earlier gains.

- An uptick in NZD/USD was noted after Westpac said that they no longer expect

the RBNZ to cut the cash rate to 1.25%.

- NZD/USD last deals at $0.6588, marginally lower on the day. Bears remain

focused on the lower 1.0% 10-DMA envelope at $0.6554, while bulls need to retake

$0.6600 before challenging the the downtrend resistance at $0.6618.

- Looking at the next week's docket, NZ food prices come out on Monday, NZ

Finance Minister will deliver his pre-budget speech on Thursday, while

BusinessNZ m'fing PMI hits on Friday. Any developments in Sino-U.S. trade

relations will also provide interest.