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NZD/USD edged lower Thursday, although.........>

KIWI: NZD/USD edged lower Thursday, although sentiment improved with China
deciding to trim tariffs on some U.S. imports. A firmer greenback kept the rate
heavish through the day, but the weekly range was respected.
- The pair holds steady at $0.6460. Bears look at the nearby trendline
support/Feb 4 low at $0.6456/50 as their initial targets. A break here would
allow them to set their sights on the 61.8% retracement of the Oct 1 - Dec 31
rally at $0.6415. Conversely, a break above the 200-DMA at $0.6505 would allow
bulls to target the Jan 29 high of $0.6552.
- 2-Yr inflation exp., due today, will conclude NZ data releases for this week.
- Next week's docket is headlined by Wednesday's RBNZ monetary policy decision.
Mkt pricing suggests a mere 4% chance of a rate cut next week. RBNZ Gov Orr will
hold a post-meeting presser & appear in parliament the next day.
- On the data front, BusinessNZ M'fing PMI & food price index will provide some
interest on Friday.

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