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NZD/USD took advantage of the weaker USD on....>

KIWI
KIWI: NZD/USD took advantage of the weaker USD on Monday & extended the recovery
from the YtD lows printed on Oct 08 to eye the 21-DMA ($0.6568), last $0.6550. A
break above would open a move on the 50-DMA ($0.6598) and a further recovery of
the sharp losses posted over the past 2 weeks. Bears target initial support at
$0.6460, ahead of the YtD low ($0.6425).
- NZ Q3 CPI headlines the local docket today, with median exp. looking for 0.7%
Q/Q & 1.7% Y/Y, up from 0.4% & 1.5% in Q2 respectively. Many are pointing to
transitory factors supporting the release, which the RBNZ is set to look
through, as such, more focus may be placed on the RBNZ's sectoral CPI model, due
at 03:00 BST.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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