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NZD/USD meandered on Monday, as participants pondered a mix of conflicting signals. Firmer oil prices helped commodity FX space, but concerns over flaring Sino-U.S. tensions and global coronavirus situation continued to linger. The rate edged lower ahead of the close, finishing slightly shy of neutral levels.
- NZ party leaders are on the election trail. PM Ardern appears in Whanganui, while National leader Collins speaks in Waikato, commenting on their respective policy proposals. As a reminder, although Sep 19 is the Election Day, early voting is widely available from Sep 5.
- NZD/USD unchanged at $0.6592 at typing. Bears look for a dip through Aug 3 low of $0.6575, before targeting the 50-DMA at $0.6543. Bulls look for a jump above Aug 7 high of $0.6691, which would open up Jul 31 high of $0.6716.
- New Zealand's card spending data comes out shortly, FPI hits on Thursday and BusinessNZ M'fing PMI will be published Friday. The RBNZ delivers its latest MonPol decision tomorrow.