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NZD/USD last trades flat at $0.6729, ahead.....>

KIWI
KIWI: NZD/USD last trades flat at $0.6729, ahead of the release of domestic
BusinessNZ m'fing PMI at the bottom of the hour. NZ card spending and net
migration data will follow 15 minutes later.
- The pair fell 38 pips Thursday, as kiwi struggled alongside the broader
commodity-tied FX space NZD/USD edged lower from off before sliding in the
London/NY hours, as strong PPI and initial jobless claims data from the U.S.
pulled the rate lower.
- Worth noting RBNZ Gov Orr told BBG that "he doesn't know yet," if the Bank
will cut its OCR as soon as in May, pointing to "a really mixed picture."
- Bulls look for a return above the 200-DMA at $0.6734 before challenging the
psychological $0.6800 level, which capped gains on Apr 3 & Apr 4. Conversely, a
dip through the Apr 5 monthly low of $0.6719 would open up the lower 1.0% 10-DMA
envelope at $0.6686.
- Investors continue to look for signals re: finalisation of Sino-U.S. trade
talks. Chinese trade balance, due later today, will also provide interest.

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