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KIWI
KIWI: NZD/USD was operating around Monday's session highs in early Asia-Pacific
dealing as BBG reported that NZ PM Ardern said that she was pretty pleased after
receiving a hint re: NZ Q2 GDP in a NZ radio interview, this was quickly
retracted, as Ardern noted that she had seen an "unaudited copy of the crown's
financial statements that are yet to be released," as opposed to GDP data.
- The pair then took a hit on the back of the formalisation of the latest round
of U.S. tariffs on Chinese imports, leaving the pair 15 pips softer on the day
at ~$0.6565 last.
- Initial support is noted at Monday's low ($0.6539), with longer term NZD/USD
support noted at the YTD low ($0.6501), intertwined with touted option linked
support at $0.6500. Resistance is located around $0.6600, followed by $0.6640.
- It is a busy week for the NZ docket, with GDP input data set to hit, ahead of
the Q2 GDP release on Thursday, while the Q3 Westpac Consumer Confidence metric
will hit on Wednesday.
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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