Daily Economic Commentary: New Zealand - Page 40
Page 40 of 110 FirstFirst ... 30 38 39 40 41 42 50 90 ... LastLast
Results 391 to 400 of 1100
Like Tree19Likes

Thread: Daily Economic Commentary: New Zealand

  1. #391
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 18, 2011

    With risk appetite on its side, the Kiwi became a rocketeer in yesterday’s trading. NZD/USD rallied past the .7700 psychological handle and tapped an intraday high of .7748 before landing at .7722 to close the day.

    Good thing there were enough good vibes to go around and get traders craving for the Kiwi despite negative data.

    According to REINZ, house prices declined by 0.6% in December after increasing by 1.9% in November. There was also the food price report for the month that showed easing inflationary pressures in the country. It printed at -0.8% in December, showing continued decline from November’s -0.6% reading.

    Our economic calendar is blank for data from New Zealand today. And so, you may want to keep for fingers crossed for risk appetite to stay if you’re planning to root for the comdoll.

    Tomorrow we’ll get a better feel of inflation in the country with the CPI report for December due at 9:45 pm GMT. Watch out for a figure higher than the 2.4% uptick that the market is expecting because that will probably be bullish for the currency.

    Before that, at 9:30 pm GMT, we’ll have the BNZ-Business PMI for November. Note that a reading better than the 52.7 figure we saw in November would imply improving manufacturing conditions in New Zealand.

  2. #392
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 19, 2011

    Boo hoo! The Kiwi was the only currency that ended lower against the Greenback yesterday. NZD/USD opened at .7722, reached a high of .7742, but closed at .7705. That's probably because the Kiwi wasn't able to draw support from fundamentals since its economic calendar is empty... but all that could change today.

    Today, New Zealand is set to report the Business NZ manufacturing index and its CPI for the last quarter of 2010. No forecast has been given for the manufacturing index but an improvement over the 52.7 reading for November could be bullish for the Kiwi. Meanwhile, quarterly inflation is expected to be up by 2.3%, higher than the 1.1% rise in price levels previously seen. Watch out for those reports due around 9:30 pm GMT!
    "The only cable I watch is the pound baby."

  3. #393
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 20, 2011

    The Kiwi was off to a strong start yesterday, as NZD/USD opened at .7704 and rallied to a high of .7788. Later on, its day took a turn for the worse when New Zealand released its quarterly CPI. Because of that, NZD/USD completely erased its gains for the day and closed 5 pips below its daily open price.

    The quarterly inflation report met market expectations and posted a 2.3% increase in price levels for the last quarter of 2010. However, components of the report revealed that the rise was due to the government's move to increase the goods and services tax instead of an actual uptick in price levels. Although the Q4 2010 CPI was higher than the 1.1% reading for the previous quarter, it probably won't be enough to convince the RBNZ to hike interest rates anytime soon.

    Today, New Zealand is set to release its retail sales report at 9:45 pm GMT. After dipping by 2.5% in October, consumer spending is expected to rebound by 1.3% in November. If the actual figure comes in better than consensus, the Kiwi could resume its climb. Stay tuned for that!
    "The only cable I watch is the pound baby."

  4. #394
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 21, 2011

    Just like the Old Spice guy, NZD/USD swan-dived from its opening price of .7696 all the way down to .7532 before closing the day at .7586. Geronimooo! So what caused the Kiwi’s fall into the pip-deeps?

    Bears had the perfect combo of not-so-good fundamentals and risk sentiment up in their coffers during yesterday’s trading. Let's take a look at them, shall we?

    First there was the retail sales report for November. At first glance, it looked good for the Kiwi because it showed that overall consumer spending was up 1.5% and beat the 1.1% forecast after declining by 2.5% in October. However, excluding volatile items, we see that retail sales fell by -0.2% during the month.

    On the other hand the positive data from China is said to have sparked risk aversion fueling speculations about another interest rate hike from the PBOC, highlighting the dollar’s safe haven status. It also didn’t help that unlike the data it got for the day, the U.S. economy actually printed better-than-expected figures, making the dollar stronger.

    We don’t have anything on tap for the Kiwi today so you may want to gauge market sentiment first before you bet your pips on it. Peace out y’all!
    Last edited by PipDiddy; 01-20-2011 at 10:52 PM.

  5. #395
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 24, 2011

    Just like its com-doll sibling aross the Tasman Sea, Kiwi trading was as chill as Pip Surfer whenever he hits the beach. NZD/USD traded within a range of 90 pips, ultimately closing at .7586, its opening price for the day.

    While no economic data is scheduled for release today and tomorrow, make sure you keep an eye out on Australian data and news. Australian inflation reports (PPI and CPI) will be released, and depending on the results, could spark a spike in volatility in Aussie trading. With the Kiwi being highly correlated with the Aussie, we could see a ripple effect take place on Kiwi pairs, so watch out.

    On Wednesday, the RBNZ will be releasing its interest rate decision. Nobody expects RBNZ head Alan Bollard to hike rates, especially given the current conditions (Australian floods). I’ll be listening to this report, and you should too – you never know if a central banker may drop a hint as to what the RBNZ plans to do in the coming months.
    "The only cable I watch is the pound baby."

  6. #396
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 25, 2011

    Weeee!!! Risk appetite in markets pulled the Kiwi along the comdolls’ ride up the charts despite the lack of economic reports in New Zealand. NZD/USD climbed by 47 pips after dropping to an intraday low of .7567.

    The docket is empty again today, but keep close tabs on any reports that might affect comdoll trading! As a high-yielding currency Kiwi trading is usually affected by the waves of risk sentiment in markets.
    Last edited by PipDiddy; 01-24-2011 at 09:39 PM.

  7. #397
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 26, 2011

    Dollar ain’t got nothing on you, Kiwi! After kickin’ it like Adidas at its opening price of .7635 during the European session, NZD/USD traded higher on the latter part of the day and closed at .7675.

    Economic gurus say that it was the combo of risk appetite and a relatively weak dollar that allowed the Kiwi to end the day positive. Unlike its comdoll homies, Aussie and Loonie, there wasn’t any economic report released from New Zealand to rain on the Kiwi’s parade up the charts.

    With our economic calendar still blank for reports, let’s see if the currency will get lucky with investors for another day. Be on your toes for any shift in market sentiment, ayt? Remember that risk aversion usually doesn’t sit well with Kiwi bulls.
    Last edited by PipDiddy; 01-25-2011 at 10:35 PM.

  8. #398
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 27, 2011

    Despite the RBNZ's decision to leave interest rates unchanged, the Kiwi was still able to end the day with a 31-pip win. NZD/USD skyrocketed just before the New York session came to a close from an intraday low of .7645 to close at .7708.

    And not only that! RBNZ Governor Alan Bollard also hinted that he won't holler any rate hike until the central bank sees a "more robust" recovery. Then again, some economic gurus think that this was relatively more optimistic than the previous statement when a fragile economy was described.

    It also helped that the FOMC sounded more dovish than expected. So with nothing on tap on our economic calendar from New Zealand today, make sure you keep an ear out for reports from the U.S.

    Good luck!
    Last edited by PipDiddy; 01-26-2011 at 10:20 PM.

  9. #399
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default January 31, 2011

    Whew! Dodged a bullet on that one! The Kiwi ended the day on a near draw against the Greenback last Friday despite the wave of risk aversion in markets. No economic report was released from New Zealand, but NZD/USD capped the day at .7722 after tipping an intraday high of .7794.

    Let’s see if the Kiwi can keep its gains coming today. The building consents report yesterday started off on the wrong foot when it declined by 18.6% in December after showing a 7.8% increase in November. Its trade balance report is also giving the Kiwi bulls a reason to flee with its 250 million NZD deficit. Hmm, does this mean that New Zealand’s exports are taking a backseat in the markets?

    The labor cost index for the fourth quarter of 2010 is due today at 9:45pm GMT. The price that businesses pay for labor is expected to increase by 0.5% after rising by 0.6% in the third quarter, but a higher number could wipe off some of the Kiwi’s losses early today.

    Stay sharp, kids!
    Last edited by PipDiddy; 01-30-2011 at 10:47 PM.

  10. #400
    PipDiddy's Avatar
    PipDiddy is offline Pip Magneto FX-Men Honorary Member
    Join Date
    Nov 2006
    Posts
    9,274

    Default February 1, 2011

    Ho humm... NZD/USD was stuck in a range yesterday as it bounced a couple of times from the .7685 area and found resistance near .7740. Is there anything on today's economic schedule that could trigger a breakout?

    But first, a quick review of the recently released economic report from New Zealand. Their labor cost index posted upbeat results as it climbed by 0.6% in the last quarter of 2010, beating the consensus of a 0.5% increase. This means that businesses are paying their employees more, and this increase in cost could eventually contribute to consumer inflation. And we all know what higher inflation could lead to, don't we? Why, interest rate hikes, of course!

    Today, there are no red flags on New Zealand's economic schedule but the Kiwi could spring into action during the RBA's rate statement. After all, New Zealand is Australia's closest trading partner and the outlook for the Land Down Under usually has an impact on NZD/USD's movement. Make sure you keep your eyes and ears peeled for the RBA policy decision and accompanying statement at 3:30 am GMT.
    "The only cable I watch is the pound baby."

Forum Sponsors
Page 40 of 110 FirstFirst ... 30 38 39 40 41 42 50 90 ... LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"The less effort, the faster and more powerful you will be."
Bruce Lee