NZD/USD has edged lower and last trades at.....>

KIWI: NZD/USD has edged lower and last trades at $0.6752 after falling 48 pips

yesterday, pressured from off by a soft quarterly NZIER biz. opinion survey.

Broader USD strength also worked against any recovery attempts.

- Worth noting the rate approached its 200-DMA at $0.6734 around the WMR fix,

but failed to breach the level, with some analysts pointing to a 0.8% advance in

GDT price index around that time. However, others focus on the fact that whole

milk prices provided disappointment, as they declined by 1.3%.

- Elsewhere, the rate gyrated alongside AUD/USD post-RBA MonPol decision,

touching a reaction high of $0.6799.

- A fall below the aforementioned 200-DMA would open up the Feb 12 monthly low

of $0.6720. Conversely, after the pair opened at today's peak of $0.6758, which

happens to represent the lower 1.0% 10-DMA envelope, bulls look for a jump above

before targeting the $0.6800 mark.

- With a thin domestic docket, NZ focus during the remainder of this week will

likely fall on the Sino-U.S. trade negotiations, as well as Chinese Caixin

services & composite PMI data, due later today.