Daily Economic Commentary: New Zealand

Whew! That was close! Just when it seemed that NZD/USD was ready to make a strong break below the .8300 major psychological handle, the pair zoomed right back up and closed at .8324. Can it keep climbing today?

There were no reports released from New Zealand last Friday, as the Kiwi was simply tossed around by risk sentiment. Profit-taking ahead of the weekend resulted to a slight dip, but the New Zealand currency was strong enough to bounce back by the end of the day.

New Zealand is set to print its NZIER business confidence figure for the third quarter of the year. The index has been climbing for the past four quarters so it could be positive for the Kiwi if the report shows another improvement. Watch out for the actual release at 10:00 pm GMT if you’re trading the Kiwi!

Zzzzzz… Thanks to a lack of market-moving catalysts, the Kiwi had a snoozefest yesterday. NZD/USD ended the day almost unchanged after falling to an intraday low of .8270.

Yesterday New Zealand’s NZIER business confidence came in at 38 against the previous month’s 32 reading. Too bad that didn’t do the Kiwi any favors! As I mentioned in my other updates, investors were pretty indecisive with their trading as we saw limited price movements.

We won’t be seeing any report from New Zealand today so y’all better pay attention to reports from other major economies in case we see a good catalyst!

“Help me! I’m stuck!” That’s probably what NZD/USD was feeling yesterday, as the pair just couldn’t make significant headway past the .8300 major psychological area. Will today’s set of reports trigger a breakout in either direction?

The lack of data from New Zealand kept NZD/USD stuck in consolidation since traders were still waiting for news on whether the U.S. is ready to end its government shutdown or not. The ongoing impasse led traders to stay put and refrain from taking any huge dollar trades just yet.

New Zealand is set to print its Business NZ manufacturing index at 10:30 pm GMT today and possibly show an improvement from the previous 57.5 reading. A lower figure would reflect a decline in optimism, which might weigh on the Kiwi.

NZD/USD was spared from the bloodbath of other major currency pairs yesterday despite the lack of report from New Zealand. The pair only hit an intraday low at .8273 before closing with a 13-pip gain.

This doesn’t mean that the bulls should be complacent though. I’m seeing on my charts that the pair is headed south fast thanks to a disappointing manufacturing index released a couple of hours ago. Watch the Kiwi closely, will ya?

The Kiwi had its wings clipped in yesterday’s trading, as NZD/USD broke below its previous range and sank below the .8300 level. Was this just a retracement or is a downtrend in the works?

There were no reports released from New Zealand yesterday, leaving the Kiwi at the mercy of risk sentiment. It didn’t help that employment change data from Australia was weaker than expected and that risk-taking remained off.

The coast is clear in terms of economic data from New Zealand for the rest of the week, so expect the Kiwi to keep moving to the tune of market sentiment. With traders crossing their fingers that Capitol Hill will come up with a budget deal over the weekend, we might see another round of profit-taking so hold on tight!

The Kiwi joined the comdoll bandwagon last Friday as NZD/USD ended the day with a 28-pip gain despite the lack of news from New Zealand.

A few coffee cups ago the REINZ house price index which showed a 0.8% gain against last month’s 2.1% growth. This doesn’t seem to be affecting the Kiwi’s price action much though, as NZD/USD is still pretty much moving in tandem with AUD/USD.

We won’t be seeing any more new from New Zealand until tomorrow when the quarterly CPI report is due, so watch the newswires closely in case we see any news that might move the comdolls!

With a lack of any news from New Zealand, the Kiwi benefited from broad risk-on sentiment in Monday’s session. After gapping lower at the open to around .8300, it was a smooth ride higher and clean break of last week’s highs around .8355 to close the session around .8373.

No data from New Zealand today, so the US debt story may continue to be the major driver in Kiwi pairs until Wednesday’s session, as well as the sentiment we may see a raise in rates from the RBNZ some time in 2014.

This one’s definitely got some moves! NZD/USD showed off its hustle yesterday, as the pair edged up to the .8400 major psychological level. Is there anything on the calendar that can spur more rallies later on?

Stronger than expected New Zealand CPI provided support for the Kiwi, as the actual figure showed a 0.9% increase versus the estimate of a 0.8% rise and the previous quarter’s 0.2% uptick. Stronger inflationary pressures mean that the central bank can afford to tighten monetary policy when needed, and it seems that this is what the RBNZ is planning on doing soon.

There are no other reports due from New Zealand but the upbeat sentiment from the freshly released inflation reports could keep the Kiwi supported against its counterparts for the rest of the day. In addition, an improvement in risk appetite might allow NZD/USD to surge past .8400 so make sure you don’t get left behind if that happens!

The Kiwi was able to jump on the risk appetite train as the comdoll bulls pushed the AUD, NZD, and CAD higher. NZD/USD popped to a 75 pips away from its open price before it closed with a 54-pip gain. Aww yeah!

Like its closest trading neighbor, New Zealand didn’t have any news report for us either. That didn’t stop the bulls though. But will they continue to flex their muscles again today?

New Zealand isn’t scheduled to release any economic data today so the Kiwi will most likely trade on risk sentiment again. You know what to do!

Up, up, here we go! The Kiwi flapped its wings in yesterday’s trading, as NZD/USD soared above several resistance levels and reached a high of .8526 during the London session. Can it keep flying until the end of the week?

There were no reports released from New Zealand yesterday, as much of the Kiwi’s moves can be attributed to the improvement in risk appetite. After all, markets rejoiced when the U.S. officially ended its government shutdown as lawmakers passed a bill to extend the debt ceiling deadline and prevented a debt default.

In terms of data, the coast is clear for New Zealand today, leaving the Kiwi sensitive to risk sentiment once again. Do keep tabs on Chinese GDP and industrial production reports due today, as these could have an impact on traders’ appetite for risk. Watch out for potential profit-taking ahead of the weekend as well. Stay on your toes!

Like many other dollar counterparts, the Kiwi was unable to make headways against the dollar last Friday. NZD/USD even dropped to an intraday low of .8488 before it closed 2 pips below its open price. Yawn.

New Zealand didn’t release any economic data last Friday but an initial reaction to China’s positive reports pulled comdolls like the Kiwi lower. It was all good in the end though, as the high-yielding currencies eventually erased their intraday losses.

Aside from the weak credit card spending report (5.2% vs. 6.6% prev) that we saw a few hours ago, New Zealand won’t be releasing reports today. The next big report is due on Wednesday at 9:45 pm GMT when the trade balance report is expected. The report could have a big impact on Kiwi’s trading, so you might want to check it out for possible day trade opportunities.

The Kiwi got its wings clipped in yesterday’s trading, as the New Zealand dollar was one of the worst performing currencies against the U.S. dollar yesterday. NZD/USD fell from a high of .8509 to a low of .8438 before ending the U.S. session around .8450.

New Zealand reported a 5.2% increase in credit card spending for September, weaker than the previous 6.6% increase seen. No other reports were released from New Zealand yesterday, which explains why the Kiwi was unable to extend its rallies for the day.

For today, there are still no reports due from New Zealand so the Kiwi might take its cue from risk sentiment or from U.S. data. Don’t forget that the U.S. is set to print its employment data for September during today’s U.S. session so y’all better set those stops right if you’re trading NZD/USD then!

Think the Kiwi would be left behind by the risk rally? Think again! NZD/USD jumped to a five-month high yesterday after the U.S. printed a weak NFP report. How will this affect the Kiwi going forward?

Well, we might have to wait for tomorrow’s New Zealand trade balance data for confirmation on the Kiwi’s intraweek direction. For now though, it looks like the bulls are still on their game to push the comdoll higher. Can you think of any catalyst that would convince them to sell?

The Kiwi was defenseless against risk aversion yesterday, as NZD/USD plummeted from a high of .8544 to a low of .8371 in a span of a few hours. It appears to be recovering in today’s Asian session but it remains to be seen whether it can climb back to its recent highs or not. What’s in store for the Kiwi today?

NZD/USD had no choice but to erase its recent wins yesterday, as news of China’s surging money market rates dominated the airwaves. This prompted traders to speculate that lower liquidity could soon result to weaker growth in the world’s second largest economy, leading to a massive flight to safety.

Earlier today, New Zealand reported a smaller than expected trade deficit of 199 million NZD versus the consensus of a 730 million NZD shortfall. This was also better than the previous period’s deficit of 1.23 billion NZD, which means that trade activity showed a strong improvement in September.

There are no other reports lined up from New Zealand for the rest of the day so it should be all about risk sentiment from here! Make sure you set those stops right if you’re trading the Kiwi!

Like its comdoll buddies, the Kiwi had no chance against its high-yielding counterparts in the face of comdoll aversion. NZD/USD fell by 43 pips while NZD/JPY clocked in another red day.

New Zealand’s economic cupboard was empty yesterday, so the Kiwi bulls and bears most likely got swept by overall comdoll aversion in the markets. Will that be the case again today?

We won’t see anything from New Zealand, so you might want to keep close tabs on commodity price action as well as any news event that might affect appetite for the comdolls.

Oh my! What a nasty tumble by the Kiwi! NZD/USD was flailing helplessly on Friday, as the pair tumbled all the way down from the .8550 area to the .8300 level. What in the world was that all about?!

As it turns out, RBNZ Governor Graeme Wheeler was no longer pleased with the Kiwi’s recent rallies, as he spoke of the negative effects of a stronger Kiwi on trade activity. The last time he started talking down the Kiwi, the RBNZ actually did a secret currency intervention of sorts! That was enough to send traders scurrying away from the Kiwi on Friday!

There are no reports due from New Zealand today, as the Kiwi might keep getting weighed down by the recent comments from Wheeler. It doesn’t help the Kiwi’s cause that traders are still feeling concerned about the impact of rising Chinese rates on liquidity and growth. Do watch out for any potential changes in sentiment though!

Unlike its comdoll buddies, the Kiwi was able to dodge the risk aversion train and actually posted gains against the Greenback and the yen. What’s up with that?!

Well, the Kiwi bulls must not have gotten tired of pushing the currency higher. After all, the Reserve Bank of New Zealand is still planning on a couple of rate hikes in the near future. Of course, it also helps that New Zealand hasn’t exactly been printing downside surprises in its reports (unlike the other major economies).

No scheduled report from New Zealand again today. This means extra vigilance on any news that might move the comdolls!

How low can the Kiwi go? NZD/USD extended its slide yesterday when risk aversion took hold of the markets. The pair tumbled from the .8300 area to a low of .8234, and the selloff doesn’t seem to be showing any signs of ending soon!

New Zealand didn’t release any economic reports yesterday, as the Kiwi was dragged down by risk aversion throughout the day. It doesn’t help that traders are still reeling from Wheeler’s recent comments regarding the negative effect of the Kiwi’s rallies on New Zealand’s export industry!

There are no economic releases lined up from New Zealand for today but traders might start pricing in expectations for the upcoming RBNZ interest rate decision. Take note that Wheeler isn’t very pleased with NZD/USD’s recent climb so it wouldn’t be surprising if he decides to alter monetary policy to keep the Kiwi’s gains at bay or conduct another secret currency intervention move. Also, don’t forget to keep tabs on the FOMC statement if you have an NZD/USD trade going on!

Just like the Aussie, the Kiwi was able to skirt losses against its counterparts. I’ll give you two guesses at the factors that boosted the comdoll.

If you guessed a hawkish RBNZ statement, then you better give yourself a pat on the back! In case you were too busy making your Halloween costumes, you should know that the RBNZ didn’t drop its plans to raise rates in 2014. However, it did caution that it could delay rates if the recent restrictions on housing loans don’t keep a lid on the rise in housing prices.

No other news due from New Zealand today! That means attention on other news events that might affect the appetite for high-yielding currencies!

The Kiwi tiptoed carefully yesterday, trying its best to stay above the .8200 major psychological support against the U.S. dollar. Against the yen, the Kiwi also moved sideways between support at 81.00 and resistance near 81.50.

Business confidence in New Zealand suffered a slight decline in October, according to the survey conducted by ANZ. The index slipped from 54.1 to 53.2 during the month, reflecting a lower level of confidence among businessmen.

There are no reports due from New Zealand today so Kiwi pairs might be stuck inside their current ranges unless there’s a sudden market catalyst. Be careful out there!