***The kiwi has operated in a tight-range in...>

KIWI: ***The kiwi has operated in a tight-range in early dealing, with NZDUSD

last 0.7220 & AUDNZD last trading at 1.0690, both pairs are virtually unchanged.

- The key domestic risk event in New Zealand this week will be the latest RBNZ

MonPol decision, due Thursday. All of those surveyed expect the RBNZ to stand

pat and leave its OCR unch. at 1.75%. Looking forwards markets currently price

around a 35% chance of a hike by the end of the November meeting, although each

of the big 4 NZ banks do not expect the RBNZ to tighten policy until 2019.

- Elsewhere trade data & Westpac Cons. Conf. are the notable onshore risk

events. While MonPol decisions from the Fed & BoE, Australia's labour market

report & Brexit negs could all shape the currency's performance this week.

- NZDUSD remains heavy following the aggressive break of the 55-DMA on Friday,

with immediate focus on 0.7174-82 where the 200-DMA & Feb low are located. Bulls

now need a close above the 21-DMA (0.7280) to ease bearish pressure.

- Barclays have put out a short NZDUSD recommendation as their trade of the

week.