• NZD/USD +0.7% from Fri 0.58515 low after DXY & UST yields went into retreat

• U.S. Jul retail sales fell short of forecasts at -0.6% m/m (poll +0.1%)

• NZ Jul electronic card retail sales +1.3% m/m (prior -1.4%), +3.4% y/y

• Trump escalates Iran rhetoric, Iran remains defiant, no peace deal in sight

• U.S. Jul import prices & industrial production (poll +0.3% m/m) due Tue

• Futures pricing presently implies 86.2% chance of 25 bps RBNZ hike Sep 2

• NZD needs clean break above 0.5910 resistance to establish longer-term rally

• Range NZ 0.58885-92, support 0.5762 0.5627, resistance 0.5905-10 0.5990-95
NZD Daily 55-DMA


DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)