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NZD/USD has faded a touch, ahead of the........>

KIWI
KIWI: NZD/USD has faded a touch, ahead of the release of the local ANZ Business
Confidence Survey. The rate sits at $0.6591, -6 pips on the day.
- Friday saw NZD/USD finish virtually unchanged & chart the second Doji
candlestick in a row. The rate fluctuated as participants weighed the recent
trade war developments. Whereas phase-one trade pact struck between the U.S. and
China is a positive development, its details lacked clarity. Elsewhere, some
positive surprises in Chinese activity data & a firmer than exp. PBoC fix failed
to provide any significant/durable boost to the kiwi.
- Bears look for a dip below the 23.6% retracement of the Oct 1 - Dec 13 rally,
which coincides with the 200-DMA at $0.6534. The next bearish target below is
the Dec 11 trough at $0.6523. Bulls hope for a resumption of the topside
momentum and keep an eye on the Dec 13 high of $0.6636.
- Looking ahead, NZ Q3 GDP comes out alongside trade balance on Thursday. BoP
current a/c data is due on Wednesday & ANZ cons. conf. comes out on Friday. The
results of the latest GDT auction are awaited in the London afternoon today.

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