NZD/USD holds steady at $0.6663, with New......>

KIWI: NZD/USD holds steady at $0.6663, with New Zealand's manufacturing PMI

reading from BusinessNZ coming up at the bottom of the hour.

- USD was the primary mover of the rate on Thursday. With post-Powell weakness

carried by the greenback through the Asia-Pac session and European morning,

NZD/USD advanced initially, topping out just shy of $0.6690. Slightly better

than expected U.S. CPI print placed a lid on gains, prompting the pair to ease

off. USD retained a softer feel nonetheless and NZD/USD finished 14 pips higher.

- Bulls look for a convincing breach of the 100-DMA at $0.6682 after NZD/USD

showed above the level on Thursday. This would open the Jun 26/Jul 5 at

$0.6693/94. Conversely, a slide below $0.6657, the 38.2% retracement of

$0.6939-$0.6482, would please bears and open up the 21-DMA at $0.6626.

- MNI understands that the RBNZ could use macroprudential measures alongside

conventional MonPol to boost the economy (see Main Wire at 05:30 BST 07/11).

- Domestic CPI, due Tuesday, headlines NZ economic calendar next week. The

publication of China's economic activity indicators on Monday will also provide

interest.