NZD/USD has shed 9 pips and last trades at.....>

KIWI: NZD/USD has shed 9 pips and last trades at $0.6630.

- All eyes are on the RBNZ, which is set to deliver its MonPol decision later

today, with most exp. the MPC to stay on hold. For our comprehensive RBNZ

preview see https://emedia.marketnews.com/marketnewsintl/RBNZ_Preview_-_June.pdf

- Fonterra informed that NZ milk collections fell 3.5% Y/Y in May, but rose 1.2%

Y/Y in the 2018-19 season.

- The IMF concluded its mission to NZ stating that the country's econ expansion

has lost momentum, but will likely pick up in the near term. They also said that

NZD is a bit above its long-term average, but it is not an immediate concern.

- With NZD/USD hovering above its uptrend support drawn off the Jun 18 low,

which comes in today at $0.6617, bears look for a break here before challenging

the psychological $0.6600 barrier, followed by the recently breached 50-DMA at

$0.6587. Bulls look to reclaim $0.6657/61, which represents the 38.2% fibo

retracement of the slide from $0.6939 to the YtD low/Tuesday's peak. Above here

opens the Jun 7 high of $0.6682.

- NZ biz. and cons. conf. ANZ surveys hit on Thursday and Friday respectively.