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NZD/USD has edged higher and sits at...........>

KIWI
KIWI: NZD/USD has edged higher and sits at $0.6342, 14 pips better off, even as
NZ card spending data released earlier in the day was less than inspiring. 
- This week in New Zealand is headlined by Wednesday's RBNZ monetary policy
decision, with markets currently pricing in a ~59% chance of a 25bp reduction to
the OCR. NZIER's Shadow Board recommended today that the RBNZ should leave its
OCR unchanged this time.
- The pair struggles to break above the 23.6% fibo retracement of the Jul 19 -
Oct 1 slide/50-DMA at $0.6343/45. A firm push above here would open the $0.6400
mark. Meanwhile, bears look for a retreat under the mid-point of the Oct 1 - Nov
4 rally at $0.6335 before attempting a move at the psychological $0.6300 level.
- Trade war developments remain key after renewed uncertainty on that front
dragged the pair lower on Friday.
- NZ data calendar for this week includes food price index & 2-year inflation
exp. (Tuesday) and BusinessNZ m'fing PMI (Friday).

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