NZD/USD slipped 30 pips overnight & last.......>

KIWI: NZD/USD slipped 30 pips overnight & last trades at $0.6746 after it

slumped 65 pips upon the release of soft NZ labour mkt data in the NY/Asia

crossover. Unemployment rose to 4.3% from 4.0% vs. exp. of 4.1% (reversing most

of Q3's larger than exp. fall in the process), while the participation rate

edged lower, and wage growth remained limited. 2 footnotes on this 1) the

pullback in the unemployment rate reflects a retracement that covers the

majority of Q3's unexpected fall 2) statistical anomalies have been banded about

by many institutions. This suggests that the print may have little effect on the

RBNZ's first meeting of 2019, scheduled for next week (also worth highlighting

that the Q3 data didn't make it to the Bank in time for assessment at its final

meeting of 2018). 

- With the rate now below its 200-DMA situated at $0.6759, bearish focus turns

to the 2.0% 10-DMA at $0.6716, followed by the Jan 22 low of $0.6707. On the

topside, initial attention is drawn to the aforementioned 200-DMA, while the

next layer of resistance is provided by the psychological $0.6800 figure.