NZD/USD last seen steady at $0.6542. The.......>

KIWI: NZD/USD last seen steady at $0.6542. The pair stuck to a particularly

narrow, 11 pip range through today's Asia-Pacific session.

- Bears eye May 17/14 lows of $0.6514/13, bulls look to the 21-DMA at $0.6565.

- NZ ANZ biz. confidence improved a touch, but remained in negative territory.

The headline index printed at -32.0 vs. the prior -37.5.

- The RBNZ released its Financial Stability Report, which noted that the

"financial system remains resilient to a broad range of economic risks," but

these "remain elevated, and ongoing effort is necessary to bolster system

soundness and efficiency."

- RBNZ Gov Orr & Dep Gov Bascand spoke after the release of the FSR. Orr said

that proposed capital review will deliver net benefits, while the RBNZ is

open-minded re: the details. Bascand noted that the pass-through of the recent

rate cut is est. to be about 15bp, but "it's still making its way through."

- NZ building permits and ANZ cons. conf. are due Thursday and Friday

respectively. Thursday will also see NZ FinMin Robertson deliver New Zealand's

2019 budget, with a speech from the Minister due on Friday.