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NZD/USD operates at $0.6636, almost............>

KIWI
KIWI: NZD/USD operates at $0.6636, almost unchanged. BusinessNZ released their
PMI survey for December ahead of the open. NZD/USD lost some ground as New
Zealand's manufacturing sector slipped into contraction. Little attention was
given to NZ Tsy's 5-month financial statements, which showed that budget surplus
was wider than expected as tax revenue topped projections.
- Solid economic data out of New Zealand allowed NZD/USD to print a new weekly
high of $0.6665 before receding on the back of stronger than exp. U.S. retail
sales, Philly Fed Survey & jobless claims. Still, the rate held about half of
its earlier gains and despite the late doors downtick in reaction to the
BusinessNZ PMI, it finished the day in positive territory.
- Bulls look for a jump above Thursday's peak at $0.6665 before attempting a
move at the Jan 6 high of $0.6680. Bears need a drop below the $0.6600 mark
before targeting $0.6584, the low of Jan 15.
- China's Q4 GDP & monthly activity indicators for Dec are on the radar today.
NZ data highlights next week include CPI andcredit card spending, due Friday. On
top of that, there is a GDT auction coming up next Tuesday.
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