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NZD/USD trades marginally lower, last at.......>

KIWI
KIWI: NZD/USD trades marginally lower, last at $0.6545. The New Zealand
Financial Markets Association (NZFMA), an organization which computes,
distributes and administers the existing bank bill rate (BKBM), decided to
choose the OCR as New Zealand's fall-back benchmark interest rate for BKBM. RBNZ
Asst Gov Hawkesby endorsed the decision in a statement.
- The rate sank amid protracted coronavirus worry on Monday, with liquidity
limited by a regional holiday in Auckland. Increasing number of
deaths/infections inspired caution, weighing on riskier FX. The 50-DMA gave way
in the process, allowing NZD/USD to print its worst levels since mid-Dec.
- The rate rests upon support from the 38.2% retracement of the Oct 1 - Dec 31
rally at $0.6545. A convincing break below would expose the 200-DMA,
intersecting at $0.6511. Meanwhile, bulls look to retake the $0.6600 figure
before attempting a move at the Jan 24 high of $0.6629.
- New Zealand's trade balance (Thursday) and ANZ Consumer Confidence Survey
(Friday) highlight the local docket this week.

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