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On The Lookout For RBNZ Communique

KIWI

NZD/USD struggled to hold onto modest gains registered as U.S. Pres Trump expressed openness for immediate deployment of some standalone fiscal measures. It tested the $0.6600 mark before easing off towards the end of the day.

  • The rate sits -4 pips at $0.6576 at typing and a dip through the 100-DMA at $0.6554 and Sep 24 low of $0.6512 is needed to open up key support from Aug 20 low/23.6% retracement of the YtD range at $0.6489/85. Bulls look for a break above the $0.6654-57 area, which capped gains earlier this month, before targeting Sep 18 high of $0.6798.
  • Just as a reminder, Auckland is now down to alert level 1.
  • Flash ANZ Business Confidence Survey headlines locally today.
  • As mentioned, local press reports suggested that RBNZ Asst Gov Hawkesby & Chief Economist Ha could brief media todayon the monetary tools at the bank's disposal.
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