NZD/USD last deals at $0.6623, 5 pips better...>

KIWI: NZD/USD last deals at $0.6623, 5 pips better off, with the kiwi marginally

outperforming its G10 peers at writing. This occurs after the rate touched its

session low of $0.6608, but bounced from worst levels.

- The second half of the session saw the rate climb to a fresh high of $0.6626

after Fonterra reported that NZ milk collection fell by 9.2% Y/Y. However,

resulting modest gains have been erased by now.

- Bulls look to yesterday's high of $0.6640 and above here opens the down

trendline from Mar 26, which kicks in at $0.6664. Conversely, a break below

$0.6608, which provided a layer of technical support yesterday and today, would

expose the lower 1.0% 10-DMA envelope at $0.6576.

- The RBNZ will deliver its MonPol decision next Wednesday. Later on Wednesday,

RBNZ Gov Orr will hold a press conference and appear in parliament. The RBNZ's

2-year inflation expectation comes out the day before.

- Inflation and trade data from China, due Wednesday and Thursday respectively,

will also provide interest.