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Strong NZ Aug building permit data (+7.8%......>

KIWI
KIWI: Strong NZ Aug building permit data (+7.8% M/M; Jul -10.8%) has helped to
support the NZD/USD in early Asia dealing, with NZD/USD last $0.6615, 5 pips or
softer on the session, off of the early low ($0.6606).
- The latest NZ ANZ consumer confidence reading was unch. with the publisher
noting that "around its historical average. Households remain a little cautious
about the outlook but the gap versus current conditions has narrowed. A smaller
proportion of households believe it to be a good time to buy a major household
item."
- The rate broke support at $0.6623 on Thursday, with a chunky (~NZ$1.3bn worth)
$0.6600 option expiry at Friday's 10AM NY cut set to provide interest ahead of
the September 19 low ($0.6573).
- The NZ docket thins out next week, with QV house price data providing the most
notable point of interest.
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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