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NZD/USD last seen at $0.6638, barely changed...>

KIWI
KIWI: NZD/USD last seen at $0.6638, barely changed on the day.
- The rate slid steadily on Friday, finishing 28 pips years lower. Familiar
themes of global trade & geopolitical tensions, as well as exp. for the RBNZ to
ease policy applied pressure from off. Meanwhile, the greenback was buoyed by
the release of strong U.S. Q2 GDP data & WH adviser Kudlow's assertion that
there will be no FX intervention to weaken USD (albeit later comments from U.S.
Pres Trump were somewhat more ambiguous - he stressed that he didn't rule out
the move, but having a strong dollar is "a beautiful thing").
- The rate is heading towards its lower 1.0% 10-DMA envelope at $0.6627. A
further slip below the 50-DMA at $0.6623 would encourage bears to set their
sights on the trendline support drawn off the Jul 19 low, which intersects at
$0.6599. Bulls look to the 100-DMA at $0.6670, which capped gains on Friday.
- NZ building permits are expected tomorrow. Wednesday will see ANZ biz.
confidence survey, while cons. confidence, also from ANZ, hits on Friday.
- High-level China-U.S. trade talks, which kick off today in Shanghai, will also
provide interest.

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