• NZD/USD -0.6% from Tue 0.59075 high as buyers take a step back

• Pair in mean-reversion mode, drift toward 0.5854 21-DMA looks likely

• NZ Q2 PPI: inputs +2.9% q/q, outputs +1.6% q/q (prior +1.4% & +0.8%)

• Strait of Hormuz shipping remains restricted despite contrary U.S. claims

• Brent crude +2.8% wtd as supply concerns re-escalate, last $91.02 a barrel

• U.S. 30-year yields trade to high near 5.32% Tue, highest level since 2007

• NZ Jul balance of trade update, and Aug S&P manufacturing PMI due Fri

• Range NZ 0.5871-746, support 0.5831 0.5762, resistance 0.5925-30 0.5995
NZD Daily 21/100/200-DMA

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