NZD/USD managed to breach its 100-DMA..........>

KIWI: NZD/USD managed to breach its 100-DMA eventually, after advancing 22 pips

overnight as the greenback retained its Fedspeak-inspired fragility, while

commodity-tied FX was bid. The rate last sits at $0.6684.

- NZ house sales fell by 3.8% Y/Y in June, according to the REINZ, compared to

-7.8% registered in May. Elsewhere, BusinessNZ m'fing PMI moved further into

expansionary territory, as it printed at 51.3 vs. the revised prior reading of

50.4. Little in the way of immediate NZD reaction to either release was noted.

- Consolidation above the 100-DMA at $0.6682 would draw the topside attention to

the Jun 26/Jul 5 at $0.6693/94, ahead of the $0.6700 handle. Conversely, a

pullback below the 100-DMA would return focus to $0.6657, the 38.2% retracement

of $0.6939-$0.6482.

- Domestic CPI, due Tuesday, headlines NZ economic calendar next week. Also

worth watching is the bi-weekly GDT auction, also on Tuesday. The publication of

China's trade balance and economic activity indicators, today and on Monday

respectively, will likewise provide interest.