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NZD/USD is bid owing to risk-on flows..........>

KIWI
KIWI: NZD/USD is bid owing to risk-on flows inspired by the previously mentioned
STAT report. China's GDP & activity indicators will be closely watched, with NZ
docket empty today. At typing, NZD/USD trades +34 pips at $0.6000, after topping
out at $0.6023.
- Bulls need a sustained buying activity to take the rate above the 50-DMA/Apr
14 high at $0.6130/31 to regain control. Bears would be pleased by a retreat
under yesterday's low of $0.5922, towards Apr 3 low of $0.5844.
- Coming up next week we have CPI (Monday) & credit card spending (Thursday). -
On Monday, PM Ardern will decide whether NZ will be relaxing its "alert 4"
lockdown measures on Apr 22. A few days back, Dep PM Peters suggested that
lowering alert level to 3 next week is likely. FinMin Robertson told Newstalk ZB
this morning that the current alert system functions in two week blocs, which
implies that the country would be on alert 3 for at least that long.

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