NZD/USD jumped early doors on Wednesday as.....>

KIWI: NZD/USD jumped early doors on Wednesday as local CPI overshot both market

& RBNZ forecasts. That said, inflation slowed on an annual basis and the release

failed to trigger any changes in RBNZ easing bets. The spell of NZD strength was

rather brief, as RBNZ Dep Gov Bascand mentioned a "reasonable prospect" of

further MonPol easing, the U.S. and China wrangled over Hong Kong, while the

PBoC fix came in slightly weaker than exp. Losses were extended in London hours

and only recouped through the WMR fix as the greenback lost steam, while U.S.

Pres Trump reiterated that "China has started buying already from our farmers."

- The rate holds steady at $0.6290 after completing an outside day & charting a

Doji candlestick Wednesday. Bulls look for a push above $0.6327/28, the Sep 26 &

Oct 8 highs/mid-point of the Sep 12 - Oct 1 slide. The next topside target is

the 50-DMA at $0.6349. Bears need a fall below the Sep 26/25 lows of $0.6268/67

before taking aim at the Sep 20 & 23 troughs at $0.6255. 

- There are no more major NZ data releases left this week, which turns

investors' focus to overseas. Today's Aussie labour market report and Friday's

Q3 GDP and monthly activity indicators out of China will be watched.