NZD/USD held post-GDP gains throughout the.....>

KIWI: NZD/USD held post-GDP gains throughout the European and U.S. sessions

Thursday, allowing the pair to close above the 50-DMA for the first time since

early April. NZD/USD now sits on gains of close to 3%, having rallied for 7 of

the past 8 sessions. Rate last deals at $0.6685, little changed in early

Asia-Pacific dealing.

- Bulls now look to the 30 August high ($0.6717), while initial support is

located at $0.6650.

- NZ focus now turns to next week's RBNZ MonPol decision, with the fact that

growth in Q2 provided a comprehensive beat vs. the Reserve Bank's Q2 estimate

(0.5% Q/Q) allowing some to suggest that the Bank has room to alter its

rhetoric, which has taken on a dovish twist since Gov. Orr took the reins. As a

reminder all of those surveyed expect the OCR to be left unchanged next week.

Market now prices ~7bp worth of easing through the end of June 2018 vs. ~10bp

pre-GDP yesterday.