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NZD/USD last seen at $0.6566, virtually........>

KIWI
KIWI: NZD/USD last seen at $0.6566, virtually unchanged on the day, after
falling 30 pips Monday on the back of flaring trade tensions between the U.S.
and China. As a reminder, China announced that it will introduce retaliatory
tariffs on U.S. goods from June 1, with the Global Times suggesting that Beijing
may stop buying U.S. agricultural products & reduce its Boeing orders. Recovery
attempts were capped around $0.6590 and a slide into the WMR fix allowed the
pair to close at $0.6567. 
- Worth noting NZ REINZ house sales printed at -11.5% Y/Y vs. the prior -12.9%.
- As highlighted in our recent MNI ANALYSIS e-mail, NZD/USD is locked in the
short-term trend channel (see
https://emedia.marketnews.com/marketnewsintl/NZDUSD_Channel.png). Below the May
8 YTD low of $0.6527 would open up the channel support at $0.6481. Meanwhile,
the topside breach of $0.6900 would bring the 21-DMA at $0.6639 into view.
- NZ FinMin will deliver a pre-budget speech later today. BusinessNZ m'fing PMI
and PPI figures, due Friday, will conclude NZ data releases for the week.

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