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NZD/USD last trades at $0.6590, almost.........>

KIWI
KIWI: NZD/USD last trades at $0.6590, almost unchanged on the day.
- NZIER has said that they now expect the RBNZ to stand pat on policy on
Wednesday in the wake of the latest OCR cut, but they retain an easing bias.
- Elsewhere, the RBNZ has requested assurance reports from ANZ, while stating
that it "has continued confidence" in the bank.
- DCANZ updated their NZ milk collection reading for 2018-19 to +2.4% Y/Y.
- On Friday, NZD/USD dipped into the European morning as an NYT report re: Trump
& Iran damaged risk appetite. However, USD weakness allowed the rate to pick up
in the London afternoon and return to neutral levels into the close.
- The rate charted a "hanging man" candle pattern on Friday, which suggests that
we may see a bearish reversal today. A move through the 21-DMA at $0.6567 would
expose the May 27 & 28 highs of $0.6553. Bulls target the nearby 50-DMA at
$0.6591. Above here and the $0.6600 mark would shift focus to $0.6604, which
registered highs on Friday, Jun 3 and May 13.
- All eyes are on the RBNZ MonPol decision, due Wednesday. NZ credit card data
hits later today, trade data is due Tues, with ANZ biz. conf. due on Thurs.

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