NZD/USD has added 14 pips thus far and last....>

KIWI: NZD/USD has added 14 pips thus far and last sits at $0.6837, with kiwi

seemingly drawing a modest degree of support from an uptick in domestic

BusinessNZ manufacturing PMI. The index printed at 53.7 vs. the prior 53.0.

- The pair slid 35 pips on Thursday, as the greenback sat atop the G10 pile. NZD

initially ignored the release of Chinese activity data, which broadly met exp.,

although industrial output & unemployment provided some disappointment at the

margin, while property investment topped exp. It should be noted, however, that

NZD/USD eased off thereafter.

- Reports suggesting that U.S. and Chinese presidents will not meet this month,

which was later confirmed by U.S. Tsy Sec Mnuchin, might have applied some

pressure on NZD in the European morning.

- Early Asia-Pac trade saw the rate jump back above its 21-DMA at $0.6832,

breached yesterday. Bulls look for consolidation there before challenging the

upper 1.0% 10-DMA envelope at $0.6883. Meanwhile, bears need a fall through the

aforementioned 21-DMA before targeting the 50-DMA at $0.6814.