NZD/USD last deals at $0.6566, a touch lower...>

KIWI: NZD/USD last deals at $0.6566, a touch lower on the day, after slipping 12

pips Friday. Worries re: U.S.-China trade tensions weighed on the pair early

doors on Friday, but optimistic comments from RBNZ Gov Orr helped to erase

losses. The rate failed to hold gains through European & U.S. hours, amid the

broader risk aversion, incited by U.S. Pres Trump's remark that it would be

"fine" if the September round of trade talks with China were cancelled.

- Bears look for a fall through the lower 1.0% 10-DMA envelope at $0.6453. This

would give them momentum, turning their attention to the Oct 8 2018 low of

$0.6425. Bulls need to take out the 23.6% fibo retracement of the Jul-Aug slide

at $0.6475 before challenging the $0.6500 barrier, which capped gains on Friday.

- Fonterra updated their guidance for this year; they see reported loss of

NZ$590-675mn and will not pay dividend in FY2019. Elsewhere, the RBNZ released a

statement re: submissions on the new proposed mortgage bond standard, which were

"broadly supportive" of introducing a new framework.

- NZ card spending data is due within half an hours' time. NZ FPI & REINZ house

sales come out on Tuesday, while BusinessNZ m'fing PMI hits on Friday.