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NZD/USD has slipped 8 pips, last deals at......>

KIWI
KIWI: NZD/USD has slipped 8 pips, last deals at $0.6421. Investors weighed the
latest signal re: U.S.-China spat, with U.S. Pres Trump's relatively hard-line
comments re: Huawei coming after weekend press reports suggesting that U.S.
Commerce Dep't may extend its permission for the Chinese tech giant to buy
supplies from U.S. producers.
- In spite of Trump's comments, BBG cited trader sources as saying that NZD was
sold against AUD on the perception that U.S.-China tensions have slightly eased.
- NZ services PMI accelerated to 54.7 from 53.0, while PPI measures (input &
output) came in positive in Q2 after negative readings registered in Q1.
- The rate is locked within the $0.6423-21 zone, which hosts several lows
printed earlier this month & a trendline support, but had a look below
overnight. A clean break here would open the $0.6400 barrier, followed by the
Aug 7 cycle low of $0.6378. Conversely, a return above the aforementioned region
would bring Friday's high of $0.6449 back into play.
- NZ credit card spending and retail sales will be published on Wednesday and
Friday respectively.

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