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NZD/USD trades flat at $0.6360, ~5 minutes.....>

KIWI
KIWI: NZD/USD trades flat at $0.6360, ~5 minutes ahead of the publication of New
Zealand's BoP current account balance for Q2. The release precedes tomorrow's
GDP figures and next week's RBNZ MonPol decision.
- The rate lost altitude through Tuesday's Asia-Pac session, amid spill-overs
from the latest RBA MonPol meeting minutes (interpreted as a marginally dovish
signal), as well as the PBoC's decision to only partially roll the maturing MLF
at a steady interest rate. However, NZD/USD managed to bounce from intraday lows
as the greenback lost ground alongside U.S. Tsys yields, pressured by
money-market woes. This was accompanied by unexpected lifts in headline price
index (+2.0%) & whole milk powder prices (+1.9%) at the latest GDT auction.
- On the technical front, bulls look for a rally above $0.6392, the 23.6%
retracement of the Jul-Aug fall and also Monday's high. Failure to move towards
the level would reassure bears, prompting them to set sights on the lower 1.0%
10-DMA envelope at $0.6326. The latter level is where the rate bottomed out on
Aug 28 & Sep 4 and is situated just above Tuesday's high of $0.6322.

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