The NZD made fresh session lows at $0.6616.....>

KIWI: The NZD made fresh session lows at $0.6616 on the back of modest USD

strength & ANZ "no longer forecasting that the next move in the (RBNZ's) OCR

will be up." The bank noted that "of course it is not that we literally believe

the OCR will never be moved ever again; rather, we no longer believe on balance

that the next move will necessarily be upwards. Indeed, given how long it is

until a hike could plausibly be on the cards, the balance of risks is, if

anything, tilted towards the next move being a cut."

- This came after the NZD/USD had consolidated the bulk of the gains it made

late on Friday, on the back of the WSJ headlines which suggested that China &

the U.S. are aiming for trade talks between Xi & Trump in November.

- The NZD/USD pair trades around 80 pips above the YtD low, last $0.6625, with

the rebound aided by the aforementioned risk on flows late Friday & technical

indicators sitting deep in oversold territory.

- Participants now look to this week's NZ retail sales & trade balance releases,

with focus on the broader risk tone/developments in the FOMC Aug meeting minutes

& Jackson Hole Symposium.