NZD/USD inched higher overnight, last trades...>

KIWI: NZD/USD inched higher overnight, last trades +5 pips at $0.6643. The kiwi

sits atop the G10 pile after a session which saw all crosses in the space stick

to very tight ranges. Reported AUD/NZD selling allowed NZD/USD to push slightly

higher, even as a BusinessNZ PMI survey suggested that New Zealand's

manufacturing sector entered contraction. Elsewhere, 5-month financial

statements published by NZ Treasury showed a wider than expected budget surplus,

underpinned by solid tax revenue.

- Chinese economic data may have helped the rate stay afloat. 2019 GDP met

expectations, but economic activity indicators for December mostly topped

expectations (albeit unemployment rate ticked higher).

- A familiar technical picture is in play, Thursday's peak at $0.6665 is the

initial bullish target. Above there opens the Jan 6 high of $0.6680. Bears need

a drop below the $0.6600 mark before targeting $0.6584, the low of Jan 15.