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NZD/USD crept higher ahead of Thursday's WMR...>

KIWI
KIWI: NZD/USD crept higher ahead of Thursday's WMR fix, taking out a key
resistance from Jun 10 high of $0.6584 in the process and briefly showing above
the $0.6600 mark, for the first time since Jan 27. The rate retreated into the
London fix, as U.S. equities softened, and finished a handful of pips shy of
neutral levels.
- New Zealand Treasury released its financial statements for the 11 months
through May 31, showing a narrower than forecast budget deficit and better than
expected core tax revenue.
- NZD/USD is little changed at $0.6572. Bulls need to see the rate gain altitude
past yesterday's peak at $0.6601 before shifting focus to the upper 3.0%
Bollinger band at $0.6652. Meanwhile, a drop below Jun 23 high of $0.6533 would
bring Jun 22 low of $0.6377 into view.
- New Zealand's card spending data is due shortly. Next week, focus turns to
food price index (Monday), CPI (Thursday) and BusinessNZ M'fing PMI (Friday).

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