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NZD/USD benefitted from AUD/NZD flows..........>

KIWI
KIWI: NZD/USD benefitted from AUD/NZD flows heading into Aussie CPI data, as the
latest ANZ Biz Confidence survey held steady. However, AUD/NZD support at
NZ$1.0800 held, which saw NZD/USD back from highs of $0.6570.
- Soft Chinese PMI data & AU CPI weighed on the commodity FX linked space
overnight, as the US$ lodged marginal gains vs. AUD, NZD & CAD, although the
buoyant session for Asia-Pac equities limited losses for the space.
- NZD/USD Bulls look for a close above the Oct 23 high ($0.6569), and the 50-DMA
at ($0.6577). Bears target a move back below $0.6500, which would then allow
them to focus on Friday's low ($0.6465).
- Focus now turns to next week's RBNZ MonPol decision & labour market data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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