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NZD/USD has fluctuated around neutral levels...>

KIWI
KIWI: NZD/USD has fluctuated around neutral levels and last trades +4 pips at
$0.5949. New Zealand's BoP current account deficit narrowed to -NZD2.657bn from
-NZD6.260 in Q4 vs. exp. of -NZD2.833bn, but the release provoked little
reaction with all eyes still on the coronavirus goings-on.
- Domestically, the dust settles after a double-barrel stimulus deployed by NZ
authorities. The RBNZ fired the opening salvo on Monday, slashing the OCR &
stating that it may deploy QE if needed. The gov't followed yesterday with a
large stimulus package, worth 4% of NZ GDP.
- NZ declared 8 new coronavirus cases, bringing their total number to 20.
- Headline price index fell 3.9% at Tuesday's GDT auction, but it still topped
the expectations of some analysts. Whole milk powder prices fell 4.2%.  
- Bears target y'day's low of $0.5916, with the lower 3.0% Bollinger band coming
in at $0.5839. Bulls look for a jump above yesterday's peak at $0.6096, towards
Monday's high of $0.6151.
- Tomorrow's Q4 GDP headlines the NZ docket during the remainder of this week,
with card spending data due on Friday.

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