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NZD/USD last seen at $0.6896, ~10 pips.........>

KIWI
KIWI: NZD/USD last seen at $0.6896, ~10 pips better off on the day, as kiwi
marginally outperforms all of its G10 peers, although the NY/Asia crossover saw
the NZ trade balance flip from a prev. NZ$12mn surplus to a NZ$914mn deficit,
which was wider than the exp. NZ$300mn.
- Initial bullish focus falls on $0.6903, which capped gains yesterday, and a
break above would open up the upper 1.0% 10-DMA envelope at $0.6929. On the
downside, the initial layer of support is provided by yesterday's low of
$0.6871, ahead of the 21-DMA at $0.6840.
- The NZ ANZ business confidence survey comes out tomorrow, while NZ building
permits hit on Friday. Chinese PMI figures, due tomorrow and the day after, will
also provide some interest.

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