Some of the stuff around on New Zealand:

CBA on the AUD/NZD:

  • AUD/NZD will likely to continue to edge higher toward 1.1300

Cites:

  • RBNZ likely to cut rates next month
  • Fonterra downgrade by S&P
  • NZ economic activity continues to slow rapidly

Société Générale:

  • Also recommended buyinjg AZUD/NZD

Cites:

  • Monetary policy divergence between Australia and NZ
  • Says NZD still overvalued

Also, from ANZ:

  • Revised their Q2 GDP forecast lower after the retail sales data today
  • to 0.2% q/q from 0.5% q/q