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NZD/USD last deals at $0.6735, a touch.........>

KIWI: NZD/USD last deals at $0.6735, a touch higher on the day, after Paymark
revealed that kiwi card spending rose 0.9% in Q1.
- Friday saw the rate close 24 pips lower, despite drawing some support from
optimism re: Sino-U.S. trade negotiations in the Asia-Pac session. Subsequent
slide into the European morning was followed by some see-saw gyrations on the
back of non-farm payrolls data from the U.S., which sent mixed signals, even as
the headline figure was strong. However, the NFP report proved USD-supportive
eventually, pressing the rate to the lowest levels since Jan around the WMR fix.
- Worth noting over the weekend White House's chief econ adviser Kudlow said
that the U.S. & China are "closer and closer" to a trade deal and will continue
top-level negotiations via teleconferencing this week.
- Consolidation below $0.6734, which represents the 200-DMA, would open up the
Feb 12 monthly low/Friday's monthly low of $0.6720/19. On the topside, bulls
need to clear $0.6766, where the rate peaked on Friday.
- NZ focus this week turns to domestic BusinessNZ m'fing PMI due Friday and any
fresh developments in Sino-U.S. trade matters.

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