NZD/USD stuck to the $0.6660-80 range on.......>

KIWI: NZD/USD stuck to the $0.6660-80 range on Tuesday, only occasionally having

brief and marginal looks beyond these boundaries. The rate posted a downtick as

the RBA cut its cash rate by 25bp, as expected, but promptly retraced the move

alongside AUD/USD. Driven mostly by USD fluctuations, the pair finished

virtually unchanged Tuesday and now sits at $0.6676, 3 pips better off.

- Tuesday's GDT auction saw the whole milk powder index stay unch., while GDT

price index declined by 0.4% (both measured vs. the prev. event). The rate

didn't show much in the way of immediate reaction.

- A rally through the $0.6680 level, which proved hard to overcome on Tuesday,

would bring the 100-DMA at $0.6695 into play. Above opens the 200-DMA at

$0.6711. Bearish focus falls on $0.6657, which represents the 38.2% fibo

retracement of the slide from $0.6939 to the YtD low, after the figure provided

technical support on Tuesday.

- NZ QV house price index slowed to +2.0% Y/Y from the prior +2.3%, the lowest

reading since Nov 2011, but the immediate reaction virtually non-existent. NZ

commodity price index is due to be released today.