NZD/USD last seen at $0.6797, ~20 pips.........>

KIWI: NZD/USD last seen at $0.6797, ~20 pips better off on the day.

- The rate posted a leg lower in the NY/Asia crossover, after RBNZ Gov Orr said

that the Bank's recent easing bias is "the starting point" for deliberations of

the new, enlarged Monetary Policy Committee. JP Morgan then revised its RBNZ

call and now exp. the Bank to cut the OCR at both of its May & June meetings.

Their previous call suggested that the RBNZ would be on hold through mid-2020.

- Nonetheless, NZD/USD managed to advance, drawing support from broader risk-on

flows, linked to optimism re: Sino-U.S. trade negotiations.

- Bulls continue to target the 100-DMA at $0.6812, followed by the 50-DMA/21-DMA

at $0.6829/33. On the downside, the initial layer of support is provided by

$0.6775/74, which has limited losses since yesterday.

- The NZ calendar is rather light next week, with QV house price index and ANZ

commodity price index coming out on Wednesday. In the absence of major domestic

data releases, NZ focus will likely fall on Chinese off'l PMI data, due over the

weekend, and Chinese Caixin PMIs due Monday and Wednesday. Any fallout from

Sino-U.S. trade talks will also provide interest.