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NZD/USD stuck to a tight range Monday,.........>

KIWI
KIWI: NZD/USD stuck to a tight range Monday, finishing a touch lower amid
caution surrounding U.S.-China trade negotiations. A CNBC report suggesting that
the Chinese gov't has turned pessimistic about the talks sent NZD/USD to its
intraday low of $0.6390. The pair regained poise thanks to a softening USD after
U.S. Pres Trump said that he discussed the greenback & negative interest rates
(among others) with Fed Chair Powell. That said, NZD/USD eased off thereafter as
trade uncertainty remained in play.
- The rate trades flat at $0.6398. NZ Q3 PPI figures, released earlier, topped
the prior readings. The data came after RBNZ Asst Gov Hawkesby said that the
RBNZ is open to adding stimulus if needed. Elsewhere, NZ gov't said that a new
national interest test will be applied to the overseas investment rules.
- Bears look for a dip under $0.6347/45, the trendline support/50-DMA, which
would bring the Nov 8 trough at $0.6322 into view. Conversely, above the Nov 14
high of $0.6419 opens up $0.6436, the Oct 22 peak coinciding with the 100-DMA.
- NZ focus turns to the results of the latest GDT auction, due for release in
the London afternoon, as well as Thursday's credit card spending data.
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