NZD/USD trades sharply lower printing a low....>

KIWI: NZD/USD trades sharply lower printing a low of $0.6677 on the back of a

fall in NZ ANZ consumer confidence (-50.3 vs. prev. -44.9), which represented a

fresh 10-Year low.

- ANZ note that "headline business confidence fell a further 5 points in August,

but firms' views of their own activity were steady. Manufacturing is now the

least confident sector - likely a lagged impact from construction sector woes.

The services sector is the most optimistic. Activity sub-indicators remain weak.

This month we take a closer look at the implications of weak investment and

employment intentions, and conclude the threat to near-term activity is real."

- As a reminder last week saw RBNZ Gov. Orr reiterate that the biggest risk to

the NZ economy comes in the form of business investment, so the pullback here,

and continuing soft trend in the survey since the current gov't took power is

receiving a heightened degree of attention.

- NZD last deals just above initial support at the 27 Aug low ($0.6670), with a

break opening up the 24 Aug low ($0.6620).