NZD/USD took flight Monday, with topside.......>

KIWI: NZD/USD took flight Monday, with topside momentum ignited by a surge in

Chinese stocks. It rose to an intraday high of $0.6566 before correcting the

move into the London morning. The pair picked up a fresh bid later in the day,

amid U.S. equity rally & beats in U.S. data, and continued to trade at elevated

levels despite failing to take out earlier highs.

- NZIER published their Business Opinion Survey today, pointing to a sharp drop

in economic activity in Q2 and noting that "business remain pessimistic about

general economic conditions over the coming months" amid uncertainty about the

upcoming general election and further trajectory of the Covid-19 outbreak.

- NZ gov't agreed with Air NZ to limit the number of seats on inbound flights as

local quarantine facilities are overflowing.

- NZD/USD last trades at $0.6555, unchanged on the day. The rate seems to have

formed a triple bottom and bulls look to take out Jun 10 multi-month high of

$0.6584. A dip through Jun 22 low of $0.6377 is needed to put bears in control.

- Focus in NZ turns to ANZ Biz. Confidence (Thursday) & card spending (Friday).

Today's MonPol decision from the RBA will also be watched.