NZD/USD extends gains as a White House.........>

KIWI: NZD/USD extends gains as a White House spokeswoman told Fox News that the

U.S. is "very optimistic" about reaching a trade agreement in China. The rate

sits at $0.6380, 13 pips better off.

- This comes after the rate charted a virtual Doji yesterday, with price action

driven by perceptions of progress in U.S.-China trade talks. Renewed uncertainty

applied pressure from the off, but the announcement that both sides agreed on a

phased tariff roll-back inspired a bounce. The pair dropped into the WMR fix on

a firmer USD, but recovered as the U.S. confirmed the tariff roll-back plans.

- After a failed attempt at taking out the channel support-turned-resistance

Thursday, bulls continue to target the level, which today kicks in at $0.6397,

ahead of the Oct 22 high of $0.6436. Bears look for a fall under the 50-DMA at

$0.6345 after the rate showed there only briefly yesterday. A clean breach of

the level would open the 50% retracement of the Oct 1 - Nov 4 rally at $0.6335,

with Oct 28 & Oct 30 lows layered just below at $0.6334 & $0.6333 respectively.

- With the NZ docket empty today, the focus will be on China's trade balance. NZ

calendar next week is headlined by the RBNZ MonPol decision.