NZD/USD last seen barely changed at $0.6529....>

KIWI: NZD/USD last seen barely changed at $0.6529. It goes without saying that

the highlight in NZ today is the MonPol decision from the RBNZ, with a presser

from Gov Orr due to follow; Orr will also testify to lawmakers tomorrow.

- The rate charted a Doji candlestick on Tuesday. The lowering of ANZ's RBNZ

call weighed on the pair early on, but this was soon negated by a very strong

jobs report released out of New Zealand, inspired a rally to the intraday high

of $0.6587. NZD/USD eased off thereafter, with some brief reprieve noted as the

PBoC effectively supported the yuan. NZD/USD's slide resumed shortly, with a

knee-jerk lower noted on a softer 2-Yr inflation exp. print. Recovery attempts

in London hours held shallow & the rate finished just shy of the opening levels.

- Yesterday's GDT event saw dairy prices reverse gains from the previous

auction, with whole milk powder prices falling 1.7%, which may have limited NZD

late doors. Westpac lowered their NZ milk price forecast post-GDT, citing a

softening Chinese demand, which is "a key swing factor in the outlook."

- A break below the $0.6500 level would bring into play the May 23 YtD low &

lower Bollinger band (2%) at $0.6482. Bulls target May 27 & 28 highs of $0.6559.