Up, up, and away! After successfully clearing the .7400 level, the Kiwi kept rallying against the Greenback as it climbed to a high of .7463. New Zealand didn’t release any economic reports last Friday but US dollar weakness pushed comdolls higher.
Only a couple of economic reports are due from New Zealand this week and these are the ANZ commodity prices data and the NZIER business confidence reading. These two reports are due today.
Commodity prices have been falling for the past three months, posting a 1.4% decrease in August. If commodity prices post an increase in September, it could propel the Kiwi higher since New Zealand’s export-driven economy is mostly dependent on commodities. On the other hand, another decline could force the Kiwi to return some of its recent gains. Watch out for the actual figure due 2:00 am GMT.
Later on, the NZIER business confidence will be released at 9:00 pm GMT. The index has been on a losing streak for the past four quarters as it dipped from 22 to 18 in the second quarter of 2010. Another decline could be bearish for the Kiwi since this would signal that businessmen are getting less optimistic with their economic outlook. But if the index puts an end to its losing streak and comes in higher than 18, it could allow the Kiwi to fly higher.
The Kiwi joined its com-doll buds on the loser’s bench yesterday as it gave up 33 pips to the dollar, ending the day at 0.7411.
The good vibes that traders might have gotten from the 2.9% increase in New Zealand’s export prices in September which pared its 1.40% decline in August, might have been countered by the not-so-awesome business confidence report. NZIER reported that business managers were less optimistic during the second quarter with its index lower at 6.0 than its 18.0 reading during the first quarter. Yikes! It seems like businessmen down there in New Zealand aren’t happy campers, huh?
Hmmm, it looks like we’re in for a snooze-a-thon for the Kiwi this week. With that said, I think it’s best that we keep tabs on the happenings with the Aussie when we enter in our Kiwi trades as the the two currencies tend to move in tandem with each other.
Good luck and may the pips be with ya!
The Kiwi pulled off an Eminem in yesterday’s trading when it soared to its 11-month high at 0.7498 after it bottomed at 0.7359. At the end of the day, the com-doll had bagged a 72-pip win with NZD/USD parked at 0.7484. Now that’s what I call a comeback!
Without any economic hollers on tap from New Zealand, you better make sure to gauge the market’s sentiment first before you bet your pips on the Kiwi. Word on the street is that it got lucky with the investors yesterday because the possibility of the US economy getting another dose of quantitative easing still scared them away from the dollar.
Good luck and happy trading!
Score another one for the comdoll connection! Continued weakness of the dollar pushed commodity dollars like the Kiwi higher against its U.S. counterpart yesterday. Despite the lack of reports in New Zealand, NZD/USD capped the day 37 pips higher at .7522.
No report will come out from the land of the Maoris today, but keep close tabs on any news that might affect comdoll trading! Good luck yo!
The Kiwi’s run for a third consecutive win against the dollar was cut short yesterday as NZD/USD closed 31 pips lower at 0.7491. It was sprinting for the 0.7600 handle, but it seems like resistance at the psychological level was too high of a hurdle. NZD/USD only reached as high as 0.7592 before it tumbled to a low of 0.7468. Ouch! Better luck next time, mate!
Without any economic reports on tap, the Kiwi was left at the mercy of the market’s sentiment. Too bad for the currency, most traders decided to lock in profits ahead of the much-anticipated NFP report from the US.
Today won’t be any different as our calendar is still blank for ‘em data from New Zealand. So make sure you keep tabs on the up-and-abouts of the Kiwi’s counterparts. Good luck!
After peaking at 0.7541 during the Asian session, the Kiwi went on a strong sell-off and landed on its intraday low at 0.7428. Good thing the com-doll regained its composure during the New York session and hustled to close NZD/USD at 0.7547 with a 56 pip-gain. Sha-bam!
It might have been profit-taking ahead of the NFP report that caused the Kiwi’s tumble. Lucky for the currency, the actual figures came in lower-than-expected and crippled the dollar. Wheew!
We have a relatively quiet week ahead of us as we start things off tomorrow with the food price index for September. It is considered as a gauge for [inflation](http://www.babypips.com/forexpedia/Inflation), so a reading higher than its 0.1% figure in August will probably be [bullish](http://www.babypips.com/forexpedia/Bull) for the currency. Then on Wednesday we have the bulk of New Zealand data on tap with the house price index and business PMI for the same month. We’ll also get the retail sales figures for August on the same day which is seen to come in at 0.3%.
Drats! Like the other comdolls, the Kiwi gave up some of its gains against the greenback yesterday despite the lack of reports in the markets. NZD/USD slipped by 59 pips to its intraday low of .7507 before capping the day at .7518.
The Kiwi has a shot at gaining back the pips today when the food price index report is released at 9:45 pm GMT. Will the food prices show development after slipping by 0.1% last August?
Be on your toes for this one!
The Kiwi may have started the week on a weak note but it bounced back yesterday as it climbed to a high of .7547 against the Greenback. No economic reports were released from New Zealand yesterday but their retail sales report due today could rock the Kiwi’s socks!
At 9:45 pm GMT, New Zealand is set to report its retail sales figure for July. After sliding down by 0.4% in the previous month, a 0.4% increase is expected this time. Meanwhile, the core retail sales report is expected to show a 0.2% uptick, better than the 0.1% decline seen in July. If the actual figures meet or beat expectations, watch out for more rallies from the Kiwi.
The Kiwi was on a good run yesterday until New Zealand’s retail sales report caused a pullback. NZDUSD fell from a high of .7634 to a low of .7567 a few hours after the release.
Retail sales were weaker than expected in August as the headline figure stayed flat while the core retail sales reading showed a 0.6% decline. These were below the expected 0.4% and 0.2% rise in retail sales and core retail sales respectively. According to Statistics NZ, vehicle and fuel sales posted large increases but these were offset by the declines in core industries such as hardware retailing.
Another downer for the Kiwi was the Business NZ manufacturing index whose September reading dipped from 49.3 to 49.2. This suggests that the industry’s expansion was slightly slower during the month.
New Zealand won’t be releasing any economic reports today so stay on your toes for any changes in risk sentiment which could affect the Kiwi’s movement. Good luck!
The Kiwi was soaring, flying and reaching for pips at its two-year high against the dollar at 0.7644, when the bears reminded it that it was nicknamed after a flightless bird. Ha! NZD/USD ended the day 25 pips lower at 0.7580.
Hmmm, the negative vibes brought about by the disappointing reports that we saw the day before might have weighed down the Kiwi. I wonder if today will be any different given that we’re in for another snoozefest for the com-doll.
So be on your toes for reports from the Kiwi’s counterparts too as those may dictate its fate on the charts. Good luck!
I guess the comdoll connection wasn’t cute enough for the markets this time! No reports were released over in the Land of the Maoris last Friday, but like the other comdolls, the Kiwi lost against the dollar on dollar strength. NZS/USD ended the week 38 pips lower against the greenback at .7542 after hitting an intraday high of .7619.
Too bad the better-than-expected CPI report last Sunday didn’t help the Kiwi much either. After printing a growth of 1.1% in prices during the third quarter, NZD/USD gapped up the charts by 22 pips, but quickly reversed its tune and is on its way down as of writing.
No economic report will hit New Zealand today, but Reserve Bank of New Zealand Governor Alan Bollard will kick off the week with a speech before the Parliament’s Finance and Expenditure Committee in Wellington tomorrow at 11:00 pm GMT.
The monthly visitor arrivals report will also clock in on Wednesday at 9:45 pm GMT, while the data on September’s credit card spending will end the week’s economic reports on Thursday at 2:00 am GMT.
Aaand we’re back in business! After experiencing a slump towards the end of last week, the Kiwi bounced back with help from positive reports released over the weekend. NZD/USD rose 50 pips from its opening price of .7564 but not before hitting an intraday low of .7501.
It seems that traders couldn’t get Sunday’s reports out of their heads. If you recall, New Zealand published its services sector PMI and posted an impressive improvement from a reading of 51.9 to 54.8 in September. These figures indicate that not only is the services sector in the process of expanding, but its growth is also accelerating.
Also, the quarterly CPI data beat forecasts for a 1.0% uptick and revealed a 1.1% increase in prices, up from 0.2% in Q1 2010.
Taken together, these better-than-expected reports make a strong case for another rate hike from the RBNZ before the year ends. Kiwi bulls, you’d better cross your fingers and hope New Zealand can sustain them!
Nothing on tap from New Zealand today. In the meantime, keep tabs on the reports the U.S. is scheduled to release. As you all know, worse-than-expected economic data from the U.S. may just work to the Kiwi’s advantage. Good luck out there, kids!
Whooops! The Kiwi suffered a major slip against the dollar yesterday as it wiped out a few days’ worth of gains on dollar strength and comdoll weakness. NZD/USD fell by 151 pips at .7439 after hitting an intraday low of .7435.
It was a dollar move for the pair yesterday as New Zealand didn’t release any economic report, but today looks promising for the Kiwi!
The number of New Zealand’s visitors in September is expected to increase by 0.6% after rising four months in a row since May, and a higher figure might bring back some of the pip love for the Kiwi. Catch this report at 9:45 pm GMT!
Fly, Kiwi, fly! The Kiwi wiped out Tuesday’s losses against the dollar yesterday when a wave of risk appetite surged in the markets. NZD/USD soared by 101 pips at .7544 after tipping an intraday high of .7569.
Of course, the better-than-expected report from New Zealand might have also spurred on the Kiwi bulls after the visitor arrivals increased by 0.9% from its 0.7% figure in August. This is good news to the bulls since tourism makes up a large part of New Zealand’s GDP.
Will the good times roll for the Kiwi today? The credit card spending report released a few coffee cups ago revealed a 4.1% growth. This is better than August’s 2.1% figure, and might cheer on the Kiwi bulls for the rest of the day.
Watch your charts closely, folks!
Traders can’t seem to make up their minds when it comes to the Kiwi! One day it’s up, the next day it’s down. Economic data from New Zealand seems just as confused as we received mixed reviews of the economy. On the charts, NZD/USD took investors on another southbound ride yesterday as it fell 79 pips and closed at .7465.
Unlike price action on NZD/USD, the reports yesterday weren’t completely lopsided. On a positive note, New Zealand announced that credit card spending picked up 0.9% in September after it had increased by 0.6% in August. This is usually bullish for the currency as it may be interpreted as an early sign of growing consumer demand.
On the downside, we learned that the ANZ consumer confidence report dropped its reading from 116.4 to 113.6. The downtick in confidence took a bit of steam off the good news that the credit card spending report brought as it means consumers aren’t completely comfortable with the current economic situation. If people don’t feel secure about their financial positions, it usually limits their inclination to spend.
Nothing on deck from New Zealand today. However, we have a potential market-mover with the G20 meetings scheduled to start later in the day. Since we’re likely to hear more about the “currency wars” and the state of the global economic recovery, you ought to check in and hear what world leaders have to say.
The Kiwi seemed to have its wings clipped last Friday as it failed to soar high across the charts. Even though it reached a high of .7509, it was unable to sustain its rally as it closed just one measly pip above its open price of .7467.
New Zealand didn’t release any economic figures at the end of the week, which probably explains the Kiwi’s lackluster performance then. Besides, it seemed like US dollar strength was prevailing that day as traders positioned themselves ahead of the weekend’s G20 summit.
Now that the G20 meeting is over and done with, what’s next for the Kiwi? Let’s take a look at the upcoming economic releases to find out.
The first couple of days of this week are report-free for New Zealand, but that may just be the calm before the storm. Wednesday will be a big day for the Kiwi as the RBNZ will announce its interest rate decision then. Even though the central bank is expected to keep rates at 3.00%, their accompanying statement could have a big effect on NZD/USD. Stay tuned for that at 8:00 pm GMT. Also due that day is the NBNZ business confidence report, which could show that sentiment improved in October.
By Thursday, the excitement is expected to die down but New Zealand still has a couple of reports on deck that day. First, the building consents report is due 9:45 pm GMT and this could print a rebound over the 17.8% decline seen in August. Otherwise, another negative reading could be bearish for the Kiwi. Next, the trade balance is projected to show that the deficit narrowed from 437 million NZD to 245 million NZD in September. The actual figure is also due at 9:45 pm GMT.
No reports are due from New Zealand on Friday but make sure you stay on the lookout for the release of the U.S. Advanced GDP since this could rock NZD/USD’s boat!
The Kiwi was off to a strong start yesterday as NZD/USD gapped up over the weekend then rallied to a high of .7562. However, the pair was unable to sustain this upward momentum when it erased some of its gains and closed at .7523.
New Zealand didn’t release any economic reports yesterday, which means that NZD/USD’s rally was mostly a result of US dollar weakness. It appears that investors are back to their ballsy selves now that the G20 promised that they would avoid a currency war. If risk appetite keeps up, NZD/USD might be poised to retest its recent highs near .7650.
Of course this would also depend on the outcome of economic releases from New Zealand. Their schedule is empty for today but, as I mentioned yesterday, the excitement starts on Wednesday (wow, that rhymes!). The Kiwi’s movement might be limited today as traders brace themselves for the RBNZ rate statement tomorrow. Make sure you keep an eye out for that!
One day it’s up, the next day it’s down! After rising up the charts to start the week, the Kiwi took a dive as uncertainty over the U.S.’s possible QE part 2 scared investors away. NZD/USD fell 40 pips and ended at .7485.
No reports from New Zealand left the Kiwi at the mercy of foreign news. Unfortunately, it worked in favor of the bears as concerns over a second round of quantitative easing in the U.S. kept most of the major currencies down against the USD.
There’s no shortage of New Zealand news today, though! At 2:00 am GMT, NBNZ will publish its business confidence report. Are businesses feeling more confident these days? If they are, then we’ll probably see a reading higher than last month’s 13.5.
Then at 8:00 pm GMT, the RBNZ makes the big announcement and reveals its interest rate decision. Though it’s widely expected that rates will stay locked at 3.00%, the rate statement is still noteworthy because officials may just let slip a few clues about future policies. Needless to say, don’t miss it!
Up, up, and away! Surprising as it may sound, the Kiwi flew even though the RNBZ decided to hold rates steady at 3.00%. NZD/USD hit a new weekly high as the pair climbed an awesome 45 pips to perch at .7480. Who says Kiwis can’t fly??
New Zealand started the day off with a bit of good news as NBNZ’s business confidence report said that confidence rose from a reading of 13.5 to 23.7 in October.
With businesses feeling secure about their financial situations, I guess it’s no wonder that RBNZ Governor Alan Bollard said he expects growth and inflation to pick up in the coming years. Heck, he even said that we’re probably going to continue seeing rate hikes in the future!
With such a positive outlook for the economy coming from Bollard himself, it should come as no surprise that the Kiwi managed to rally even though the central bank held rates at 3.00%. Besides, the decision to hold a rate hike was already widely expected anyway.
We have a couple more reports on deck from New Zealand today.
Will we see an improvement in building consents data? August printed a 17.8% decline in the number of new building approvals issued. It would be nice to see a rebound from this sharp drop since it marks the biggest decline in about 2 years!
Trade balance data is also due and is expected to show a narrower trade deficit at 348 million NZD, down from 437 million NZD. Can better than expected results in September spur the Kiwi higher?
Both reports are due at 9:45 pm GMT, so you have no excuse to not catch them both!
The Kiwi was feelin’ so fly like a G6 during yesterday’s trading when NZD/USD zoomed to the day’s close at .7539 after taking off at .7435. If you do the math, that’s a whopping 104-pip gain yo!
What fueled the Kiwi’s flight on the charts? Well, word on the street is that it was once again because of talks about the Fed’s move to launch QE2 that got investors fleeing away from the dollar and rushing into other currencies.
But I ain’t so sure if the Kiwi will get lucky with traders today given the mixed economic reports we saw earlier.
The good news is, Statistics New Zealand reported that building consents grew by 0.5% in September after posting a 17.8% decline in August. Yipee!
However, the trade balance report showed that imports outpaced exports by 532 million NZD during the same month, following the 437 million deficit that it printed in August. The figure could be a setback for the Kiwi’s flight as the market was expecting a narrower trade deficit amounting to 450 million NZD. Yikes!
We don’t have anything left on tap for the com-doll, so you may want to gauge the market’s mood before you bet your pips on it. If the anti-dollar sentiment continues, there’s a good chance that we’ll see the Kiwi stack up its gains. Good luck!