NZD/USD struggled for a clear direction........>

KIWI: NZD/USD struggled for a clear direction Monday amid gyrations in risk

appetite. Wider defensive feel evident in Asia-Pac hours dissipated later in the

day, as U.S. equities recovered. The rate finished the day marginally shy of

neutral levels.

- When this is being typed, NZD/USD is little changed at $0.6045. A fall through

Monday's trough at $0.6009 and Apr 28 low of $0.5992 would clear the way to

$0.5911, the low of Apr 23 and a key near-term support. Bulls need a rally above

Apr 30 high of $0.6176 to gain some impetus.

- As a reminder, PM Ardern will dial into Australian cabinet meeting to discuss

creating a trans-Tasman "travel bubble".

- New Zealand's building permits fell 21.3% M/M in March after a 4.7% increase

in February. The kiwi has ignored the release.

- Quarterly employment and wage data (Wednesday), as well as inflation

expectations (Thursday) headline the NZ during the remainder of this week.