NZD/USD shed 67 pips yesterday as USD grew.....>

KIWI: NZD/USD shed 67 pips yesterday as USD grew firmer on the back of

heightened hopes for a fiscal response to the coronavirus crisis from the U.S.

gov't. Meanwhile, the kiwi was limited as NZ FinMin Robertson noted that the

RBNZ has room to loosen MonPol & urged banks to pass on any potential rate cuts.

Elsewhere, RBNZ Gov Orr outlined the unconventional MonPol toolkit, noting that

these instruments are not needed at present.

- NZ retail card spending rose 0.6% M/M in Feb vs. est. of a 0.3% decline. Stats

NZ said that the reading was boosted by spending on groceries and it's "possible

that increases in supermarket sales resulted from concerns around COVID-19." 

- The rate last sits -9 pips at $0.6261. It remains confined to yesterday's

range, with bears looking for a breakout to the downside. Below yesterday's

trough at $0.6243 would expose the Mar 9 low of $0.6014. Bulls keep an eye on

the 38.2% retracement of the Dec 31 - Mar 9 slide/round figure at $0.6297/6300.

Above there would clear the way to yesterday's high of $0.6360.

- BusinessNZ m'fing PMI & Food Price Index will be released out of NZ Friday.