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Pres Biden Budget Proposal Ests


Needle Still Points South


Resistance Remains Intact


Reverse Repo Operation


Softer Greenback Extends GBP Bounce

KIWI: NZD/USD last deals at $0.641`, 6 pips lower on the day. The downtick has
been driven by U.S.-China tensions over the Hong Kong bill passed by U.S.
Congress and awaiting the (expected) presidential signature.
- This comes after the aforementioned tensions pressured the pair from the off
yesterday, with a recovery in London hours interrupted by a RTRS report stating
that the finalisation of the initial U.S.-China trade pact may be delayed until
next year. The rate finished 14 pips worse off as a result.
- NZ gov't faces intensified scrutiny as attention of the local press has been
drawn to controversies around donations to the New Zealand First party, a junior
member of the ruling coalition. Elsewhere in NZ news, the RBNZ said yesterday
that they are watching Australia's money-laundering probe into Westpac.
- A break under the $0.6400 mark would expose the trendline support at $0.6360.
On the topside, focus falls on the 100-DMA at $0.6431 and a break here would
bring the Nov 4 peak at $0.6466 into view.
- The local credit card spending data, due later today, completes this week's
data releases in NZ.