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NZD/USD weakened on Thursday as spiralling.....>

KIWI
KIWI: NZD/USD weakened on Thursday as spiralling U.S.-China tensions dented risk
appetite. Beijing pledged to tighten its grip on Hong Kong and Washington
promised retaliation, with mutual sabre-rattling taking focus through the day.
This allowed the rate to snap its three-day winning streak.
- NZ FinMin Robertson spoke this morning, noting that the gov't has no intention
to raise taxes or change the retirement age at the moment.
- NZD/USD has added 9 pips thus far and sits at $0.6123. A clearance of May
11/20 highs of $0.6156/58 is needed to bring the key Apr 30 high of $0.6176 into
play. Bears look for a retreat under the round figure/50-DMA at $0.6000/5996,
which would allow them to target May 15/Apr 23 lows of $0.5921/11.
- Re: local political matters flagged here before, the main opposition National
Party's caucus holds an emergency leadership vote today as MP Todd Muller is
trying to unseat current leader Bridges ahead of September's general election.
- NZ retail sales are due later today. Next week, focus turns to Tuesday's trade
balance, Thursday's ANZ Biz. Confidence and Friday's ANZ Cons. Confidence. RBNZ
Gov Orr will hold a presser on Wednesday, after the release of the FSR.

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