NZD/USD holds steady at $0.6421. The rate......>

KIWI: NZD/USD holds steady at $0.6421. The rate hasn't shown much in the way of

reaction to NZ economic data. Building permits fell 1.1% M/M after rising 7.4%

in Sep, while the latest ANZ consumer confidence index extended recovery, rising

1.9% M/M. Elsewhere, NZ budget in the four months to Oct 31 was in deficit, as

tax revenue missed forecasts.

- Commenting on the budget data, NZ FinMin Robertson noted that net debt-to-GDP

ratio is lower than expected and NZ debt position remains strong.

- NZD/USD charted a Doji on Thursday with activity thinned by the Thanksgiving

holiday in the U.S. The signing of a protesters-supporting Hong Kong bill by

U.S. Pres Trump applied some weight to the pair, before a solid improvement in

ANZ business confidence prompted it to rebound. It slipped into the WMR fix, but

reclaimed neutral levels ahead of the close.

- A break above the Nov 21 high of $0.6437 would open the Nov 4 peak at $0.6466.

Bears keep an eye on the 50-DMA, which intersects at $0.6357.

- NZ focus next week turns to terms of trade (Monday), volume of all buildings

(Thursday) and the announcement of the RBNZ's decision re: capital requirements.