NZD/USD hovers above its session lows at.......>

KIWI: NZD/USD hovers above its session lows at typing, touched on the back of

soft domestic data, revisions to RBA calls and softer CNY. The rate last trades

at $0.6532, 36 pips lower on the day.

- NZ BusinessNZ M'fing PMI printed at 50.2, with the previous reading revised to

52.7 from 53.0, applying some early pressure to the kiwi.

- NZD/USD has extended losses thereafter, due to spillovers from AUD weakness

and softening CNY.

- The Aussie has been weighed on as NAB and RBC revised their RBA calls,

lowering their respective cash-rate forecasts for further ahead.

- The yuan declined as ex-PBoC Gov Zhous noted that trade war could trigger

global currency depreciation.

- NZD/USD currently rests upon support provided by the lower 1.0% 10-DMA

envelope at $0.6532. A clean breach of the level would bring the $0.6500 mark

into view. Meanwhile, bulls look to recover the 21-DMA at $0.6559.

- NZ highlights next week include Westpac cons. conf. survey due Tuesday, BoP

c/a data due Wednesday and Q1 GDP due Thursday.