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NZD/USD sits at $0.6438, 11 pips above.........>

KIWI
KIWI: NZD/USD sits at $0.6438, 11 pips above neutral levels. NZD benefits from a
risk-on mood inspired by weekend remarks from U.S. Pres Trump & Commerce Sec
Ross, who suggested that the signing of a phase one trade pact w/China is nigh.
- This comes after a solid ANZ consumer confidence survey out of NZ and
surprisingly firm Chinese Caixin m'fing PMI gave the pair a kick start to the
session Friday. The rate trimmed those gains into Europe and the initial
recovery was capped by a strong U.S. NFP report. However, a miss in U.S. m'fing
survey allowed NZD/USD to gain some ground ahead of the close.
- Friday saw the rate show above the Sep 12 high of $0.6451. A clean break above
there & Friday's peak at $0.6457 would open up the 100-DMA at $0.6465.
Meanwhile, bears initially look for a fall under the psychological support/23.6%
retracement of the Oct 1 - Nov 1 rally at $0.6400/0.6397.
- The NZ docket this week is headlined by a labour market report, due on
Wednesday. There is a GDT auction scheduled for Tuesday, while REINZ house sales
may hit at any point this week. Also worth watching Chinese services/comp Caixin
PMIs & trade balance, due on Tuesday and Friday respectively.

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