* Attention on RBNZ, watching change of stance * Kiwi weakens as risk appetite eases, U.S. dollar firms WELLINGTON, Oct 27 - The New Zealand dollar was weaker on Tuesday as risk appetite receded ahead of the Reserve Bank of New Zealand's interest rate review later in the week, with the focus on any comment on when rate rises might start. A firmer U.S. dollar and weaker equity markets and commodity prices also helped put high-yielding currencies such as the kiwi on the back foot. Investors expect the RBNZ to drop its easing bias at the Thursday review announcement in the face of data showing an improvement in the domestic economy. For a preview see [ID:nWEL505681]. "No one expects a change in rates, but the press statement will be keenly dissected for hints regarding when the first hike is likely to come," analysts at Westpac said in a note. The kiwi was at $0.7477/83 at 0400 GMT compared with $0.7564/74 in late local trade on Friday. New Zealand markets were closed on Monday for the Labour Day holiday. The currency had hit a 15-month high of $0.7635 on Thursday. Recent housing and retail data has paint a picture of an economy steadily recovering after emerging from five quarters of recession in the three months to June. Adding to the positive news, a survey released on Tuesday showed consumer confidence at a 22-month high ([ID:nWEL476995]). The closely watched National Bank business outlook survey will be released on Wednesday, with September trade data due on Thursday and September building consents on Friday. Government debt was weaker, with the yield on the benchmark 10-year bond 3 basis points higher at 5.86 percent.

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