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KIWI: NZD/USD last deals at $0.6298, barely changed on the day.
- The combination of a wider than expected budget surplus posted by New
Zealand's Treasury, broader yuan strength and high hopes ahead of the imminent
U.S.-China trade talks supported NZD/USD through yesterday's Asia-Pac session.
Nonetheless, a rapid escalation in tensions between Beijing and Washington
damaged risk appetite, putting an end to the rally in NZD/USD. The rate slid
sharply into the WMR fix before stabilising marginally above neutral levels.
- BNZ published its jobs ads index, which printed at +0.4% M/M and +0.9% Y/YY
vs. the prior -0.4% and +0.7% respectively. ANZ Truckometer Heavy came in at
+2.4% M/M vs. -4.2% the previous month.
- Bearish attention is drawn to $0.6286/84, where the rate bottomed yesterday/on
Monday. A break here would expose the lows of Sep 20, Sep 23 & Oct 3, all three
at $0.6255. Conversely, a break above the 21-DMA at $0.6312 would shift bullish
focus to $0.6327/28, which represent yesterday's peak/the 50% retracement of the
Sep 12 - Oct 1 slide.
- NZ food price index hits on Thursday, BusinessNZ m'fing PMI is due Friday.