NZD/USD shook off its initial weakness.........>

KIWI: NZD/USD shook off its initial weakness Monday and rallied into positive

territory, extending gains as the Fed announced that it will start buying

individual corporate bonds. The pair remained afloat, as broader commodity-tied

FX held onto gains.

- Westpac McDermott Miller Consumer Confidence Index fell to 97.2 from 104.2 in

Q2, with Westpac commenting that given the circumstances, "the decline in

confidence this quarter was surprisingly moderate".

- NZD/USD trades at $0.6489, 15 pips higher on the day, as the risk-on feel has

spilled over into Asia. A rally above Jun 11 high of $0.6544 would bring the key

Jun 10 high of $0.6584 into play. Meanwhile, bears need a pullback under

Monday's low of $0.6381 to expose the 200-DMA at $0.6322.

- New Zealand's BoP current a/c balance comes out Wednesday, while Q1 GDP data

is due Thursday.