NZD/USD finished a tad higher Tuesday,.........>

KIWI: NZD/USD finished a tad higher Tuesday, extending its rebound from worst

levels since 2015. The rate ticked higher in Asia thanks to the RBA's decision

to "only" deliver a 25bp cut & some relatively optimistic overtones in rhetoric

from the Martin Place, which spilled over across the Tasman. Later in the day, a

50bp rate cut delivered by the Fed inspired a spike in NZD/USD, as the greenback

took a hit. The rate faded most of that move into the close.

- The results of the latest GDT auction, released in the London afternoon,

attracted little attention, given the broader picture developments. Headline

price index fell 1.2%, with whole milk powder prices declining 0.5%.

- Already out this morning we had NZ building permits, which fell 2.0% M/M.

Elsewhere, New Zealand confirmed its second coronavirus case in Auckland.

- NZD/USD trades at $0.6272, 3 pips worse off with Antipodean FX struggling

somewhat at typing. The Mar 2 low of $0.6180, remains the key near-term bearish

target. Above Tuesday's peak at $0.6325 would draw topside attention to the Feb

27 high at $0.6335.

- Domestic focus turns to vol. of all buildings (Friday).