NZD/USD last seen at $0.6495, almost...........>

KIWI: NZD/USD last seen at $0.6495, almost unchanged on the day. A move through

yesterday's YtD low of $0.6492 would bring the Oct 10/11 2018 lows of $0.6442/46

into play. Conversely, a return above $0.6500 would expose the downtrend

resistance at $0.6522. Traders are reminded of the recent death cross formation

(50-dma below 200-dma).

- The rate found itself under pressure from the flaring U.S.-China trade

tensions yesterday, as the U.S. was reported to consider blacklisting up to five

Chinese surveillance-equipment companies. Mid-day recovery attempts remained

shallow and the rate finished 12 pips worse off.

- FinMin Robertson said that gov't will switch from a single figure debt target

into a target range, adding that next week's budget will involve the target

range of 15-25% of GDP.

- Fonterra narrowed its milk price guidance for 2018-19 to the lower end of the

prev. range and trimmed its EPS forecast, citing slower than exp. recovery in

key markets.

- NZ trade balance, due on Friday, is the only NZ release left this week.