NZD/USD weakened past $0.6500 Thursday,........>

KIWI: NZD/USD weakened past $0.6500 Thursday, pressured by concerns over the

novel coronavirus. The rate slid from the off, bottoming out at $0.6480, the 50%

retracement of the Oct 1 - Dec 31 rally. It ticked away from worst levels ahead

of the close as the WHO declared international emergency, fuelling hopes for

intensified efforts to contain the virus.

- ANZ published their NZ Consumer Confidence Survey earlier today. Headline

index was little changed (-0.5% M/M) and according to accompanying commentary

remained at "a solid level," suggesting that "New Zealand consumers are feeling

pretty alright about things at the moment."

- Solid enough cons. conf. may be a reason why NZD has not softened in tandem

with AUD today, with China reporting ever-increasing death toll & no. of cases.

- With the rate sitting -3 pips at $0.6485, bears look for a resumption of

downside momentum & a break of the highlighted $0.6480 level. This would expose

the 100-DMA at $0.6467. Bulls look for a rebound above teh $0.6509 200-DMA.

- Chinese off'l PMIs are on the radar today. Coming up next week are NZ building

permits (Tues) & labour mkt data (Weds). The next GDT auction is on Tuesday.