NZD/USD holds steady at $0.6297; NZ calendar...>

KIWI: NZD/USD holds steady at $0.6297; NZ calendar is virtually empty today.

- The kiwi was the best G10 performer on Monday, capitalising on renewed

optimism surrounding U.S.-China trade talks. Warm rhetoric from both countries,

coupled with reports downplaying China's decision to cancel an official visit to

U.S. farmlands, ignited upside momentum in NZD/USD from the off. Although the

Asia/Europe crossover saw a corrective pullback, the pair advanced through the

rest of the day, halting the rally just shy of $0.6300. Some also pointed to

positioning ahead of the imminent RBNZ meeting as driving the move higher.

- A clean break above the psychological barrier/23.6% retracement of the Sep

12-20 slide at $0.6300/01 would shift focus to the 38.2% retracement of that

range at $0.6830. Bears keep targeting the recent cycle low of $0.6255.

- NZ PM Ardern had an opportunity to discuss topics ranging from gun control to

trade to national security with U.S. President Trump yesterday.

- The RBNZ monetary policy decision, due on Wednesday, headlines the local

docket this week. Other points of note include trade balance (also Wednesday)

and ANZ consumer confidence survey (Friday).