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NZD/USD has ignored the release of the.........>

KIWI
KIWI: NZD/USD has ignored the release of the latest NZ gov't fiscal statements,
which revealed a higher than exp. budget surplus of NZ$2.52bn in the 9 months
ending on Mar 31. The rate last trades flattish at $0.6668.
- The pair edged higher in early Asia-Pac trade on Monday, supported from off by
strong Chinese industrial profits data released over the weekend, with traders
also pointing to a spillover from AUD demand. Nonetheless, after nearing its
Friday's high of $0.6682, NZD/USD faded into the European morning and stuck to a
15 pip range thereafter, closing a touch higher on the day.
- A successful breach of the aforementioned Friday's high would bring the 21-DMA
at $0.6711 back into play, after the level has remained intact for almost two
weeks. Conversely, bears eye the lower 1.0% 10-DMA envelope at $0.6598.
- NZ focus today turns to domestic ANZ biz. confidence, as well as Caixin m'fing
PMI & all three official PMI gauges from China. Later in the week, NZ labour mkt
figures & QV house prices hit on Wednesday, while NZ building permits are due
Thursday.

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