NZD/USD on the front foot, drawing support.....>

KIWI: NZD/USD on the front foot, drawing support from a revision of Westpac's

RBNZ call, which came in just after a strong NZ building approvals print. The

pair sits at $0.641, 21 pips better off.

- Westpac now expect the RBNZ to leave the OCR unch. at the Nov meeting, but

admit that it "remains a very close call." Instead, they forecast the NZ central

bank to trim its policy rate in Feb. Meanwhile, NZ building permits rose 7.2% in

Sep vs. the more modest 0.9% increase registered the prior month.

- The rate is back on the $0.6400 handle, which turns focus to the Oct 22

monthly high of $0.6436. A break above there would open up $0.6451, the high of

Sep 12. Conversely, a slide under the 23.6% retracement of the Oct bull mkt at

$0.6781 would play into the hands of bears.

- Recap: NZD/USD added 33 pips Weds as during the post-FOMC presser Chair Powell

said that members "don't see inflation moving up right now," damaging USD.

- Looking into the local docket, ANZ will publish their biz. conf. survey at the

top of the hour, while the cons. conf. counterpart comes out tomorrow. Chinese

off'l PMIs (today) and Caixin m'fing PMI (Friday) may also be of interest.