NZD/USD has picked up a bid, last trades +15...>

KIWI: NZD/USD has picked up a bid, last trades +15 pips at $0.6633; little in

the way of headline drivers seen so far. In the local data released earlier,

REINZ house sales rose 12.3% Y/Y in December, after falling 1.9% in Nov. Card

spending figures unexpectedly declined. Elsewhere, ASB commented in a note that

they pencilled in a 25bps cut from the RBNZ in 2020, but the chance of the OCR

being trimmed has fallen over the recent months.

- The rate made a foray below $0.6600, which had represented the YtD low touched

on Jan 9, but bounced back above there and finished marginally in the green. The

signing of Sino-U.S. phase-one deal took the centre stage, with questions being

asked re: its contents and aftermath.

- With the rate hovering above yesterday's high, bulls keep an eye on the Jan 13

peak/21-DMA at $0.6653/54. A break here would expose the Jan 6 high of 0.6680.

Meanwhile, should the rate sink through $0.6600 again, bears could expect it to

challenge yesterday's low of $0.6584.

- With no more points of note in the domestic calendar, NZ focus turns to

China's Q4 GDP and a slew of monthly activity indicators, all due on Friday.