Published at 03:22 (GMT) 23 Nov

Chart

Choppy action in Kiwi as two way trade persists in risk assets with NZD/USD trading 0.7200-75, with slightly more one-way trade against the yen as $/Yen grinds 20 pips higher to near 89.00. Markets ignored strong migration and tourism data despite the RBNZ's focus on the potential impact of this trend on housing prices and h'hold demand, and have similarly ignored the subdued ANZ/Roy Morgan consumer confidence data, with thinned easing 4.4 points to 121.5, still remaining well above the boom-bust 100 level. NZD/USD at 0.7250 has support at 0.7200 and resistance 0.7275 ahead of 0.7327. The next key local event is the NBNZ business survey on Tuesday, with stronger to dairy prices to support, but offset by rising economic uncertainty as data remains mixed. MK