Archived IMT (2009.06.09)

Aussie looks to enter the second rising week against the Kiwi above 1.2750, recovering from an 8-week low of 1.2377. With both currencies rallying vs the dollar and the yen and equities showing tentative signs of peaking out, the prospects of ensuing retreat in equities is seen USD-positive, more ideally against NZD is seen capped at 0.6270-75, for renewed pullback towards 0.26. Aussie employment report due on Thursday expected to show -30K decline after +27K with unemp rate at 5.7% from 5.4%.