NZD/USD edged higher Tuesday, printing a new...>

KIWI: NZD/USD edged higher Tuesday, printing a new multi-month high as U.S. Pres

Trump's suggestions that he is in no rush to sign a trade pact w/China failed to

wipe out earlier gains. In the Asia-Pac session, the pair strengthened alongside

AUD/USD as the RBA left its cash rate unch. and pointed to lessening risks.

- Muted reaction seen to the latest GDT auction, which saw headline index snap

its five-event winning streak, with whole milk powder rising just a modest 0.1%.

- The rate trades flat at $0.6523 and a lift above the channel top/200-DMA at

$0.6540/44 would bring the Aug 6 high of $0.6587 into play. On the flip side, a

break under the neckline at $0.6475 would play into the hands of bears,

prompting them to target $0.6466, the high of Nov 4. As a reminder, on Monday

the rate completed an inverse head and shoulder that had been unfolding for the

last three and a half months, which we flagged in yesterday's bullet.

- ANZ commodity price index, released out of NZ, rose 4.3% M/M. Elsewhere, there

has been no follow-through from RBNZ Gov Orr's parliamentary testimony.

- NZ focus turns to Thursday, with the local Q3 vol of all buildings & the

announcement of RBNZ decision on bank capital due.