CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: CANADA JUN INDUSTRIAL PRICES +0.0% MOM; EX-ENERGY +0.1%

MNI: CANADIAN MAY RETAIL SALES -0.8%; SALES EX-AUTOS/PARTS -1.3%

EZ/UK Bond Supply Calendar: Belgium Auction, BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Slightly Heavier In Early Trade

NZD

NZD/USD wavered Monday. Solid activity data released out of China coupled with broader risk-on flows supported the pair in early trade, but renewed demand for the greenback applied fresh pressure thereafter. The rate finished the day just marginally above neutral levels.

  • NZD/USD sits at $0.7041 as we type, a handful of pips lower on the day. Bears would be pleased by a slide through the round figure/Nov 12 low of $0.7000/0.6997, which would expose Oct 14 low of $0.6956. Bulls need a clearance of Nov 8 high of $0.7177 before targeting Oct 28/21 highs of $0.7217/19.
  • The gov't announced that New Zealand is reducing mandatory self-isolation period for fully vaccinated Covid-19 cases to 10 days from 14.
  • New Zealand's highlights this week include PPI (Wednesday), inflation expectations (Thursday) & credit card spending (Friday).
  • In the meantime, today's portion of RBA speak will be eyed for any trans-Tasman impetus.
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