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NZD/USD climbed 20 pips overnight and last.....>

KIWI
KIWI: NZD/USD climbed 20 pips overnight and last deals at $0.6866, as kiwi drew
support from a strong NZ retail sales print, as well as developments in
Sino-U.S. trade relations. In early Asia-Pac hours, U.S. President Trump
suspended the next round of tariffs to be imposed on China as he pointed to a
summit with Chinese counterpart Xi, which boosted risk appetite. However,
subsequent commentary piece from Xinhua, which stated that the "trade talks will
be harder at the final stage," tempered risk sentiment, knocking NZD/USD off its
best levels.
- A familiar technical picture remains in play, with bulls focused on the Feb 21
high of $0.6877, ahead of the 1.0% 10-DMA envelope at $0.6902. On the downside,
initial attention is drawn to the Feb 18/today's low of $0.6840, followed by the
21-DMA at $0.6834.
- NZ highlights this week include trade balance data due Wednesday, biz.
confidence due Thursday and building permits due Friday. Tuesday will see
remarks from RBNZ's Bascand, after his heavily caveated remarks re: the
potential for rate cuts on Friday.

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