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NZD/USD continues to struggle above $0.6700,...>

KIWI
KIWI: NZD/USD continues to struggle above $0.6700, with the cross last dealing
at session lows of $0.6680 after a brief foray above the figure early on
Tuesday, on spill over from Monday's soft USD session.
- The pair struggled overnight, with lacklustre Chinese stocks, a surer footing
for the USD & comments from Trump pointing to a longer horizon re: a U.S.-China
trade talk hindering the NZD's performance.
- Bulls need to break the August 22 high ($0.6720) to open up a move to the
pre-RBNZ area (~$0.6750), while support is noted at ~$0.6670.
- Thursday's ANZ business confidence survey headlines the NZ docket this week.
As a reminder last week saw RBNZ Gov. Orr reiterate that the biggest risk to the
NZ economy comes in the form of business investment, so the upcoming release may
come under more scrutiny than usual.
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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