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NZD/USD has added 8 pips, last trades at.......>

KIWI
KIWI: NZD/USD has added 8 pips, last trades at $0.6655. Already out today was
ANZ Truckometer Heavy Index, which fell 2.5% M/M, albeit accompanying note
suggested that "the slowdown in economic momentum may be finding a floor." ANZ
Commodity Price Index is due at the top of the hour.
- Wednesday saw geopolitics dictate price action, as the U.S.-Iran situation
drove gyrations in risk appetite. NZD/USD fell initially as Iran attacked two
Iraqi bases hosting U.S. troops. The lack of casualties & Iran Foreign Min's
suggestion that retaliation has been concluded prompted mkts to fade risk-off
moves, sending NZD/USD to intraday highs into the London morning. The rate then
ebbed off highs before receiving a bump from U.S. Pres Trump's apparent
preference for a peaceful resolution of tensions with Iran.
- NZD/USD remains supported by the recent 50-/200-DMA "golden cross." Bulls
target the $0.6700 mark, followed by the multi-month high of $0.6756, printed on
Dec 31. Bears need a clean break under the 21-DMA at $0.6648 before taking aim
at Wednesday's trough at $0.6618.
- It may be worth watching China's inflation data today.

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