Worse-than-expected data? That ain’t a problem for the Kiwi yo! It was numbah one among the comdoll clique yesterday in gaining the most pips against the dollar. NZD/USD tapped its 5-week high at .7637 before ending the day 48 pips higher from its opening price at .7637. Boo yeah!
It was reported yesterday that building consents were back on the red again in February, erasing the 9.1% gain we saw in January. According to Statistics New Zealand, the number of building approvals issued during the month declined by 9.7%. Ouch!
So what fueled the Kiwi’s flight yesterday?
Some economic gurus say that Kiwi bulls have the Aussie to thank for. Remember that most of New Zealand’s exports go to Australia and so, the strong Australian dollar makes it cheaper to import from its neighbor. These giddy hotshots have their hopes up that further gains in the Aussie will sustain the demand for New Zealand’s products and consequently boost the Kiwi on the charts too.
I’m not sure if yesterday’s comdoll numbah one will continue flapping its wings on the charts today though. It was reported earlier that confidence among businessmen tumbled in February to -8.7, following its 34.5 reading in December. Yikes! But who knows, maybe there will be enough risk appetite to go around and keep the Kiwi steady.
Staying at number one ain’t easy, huh? The Kiwi lost its spot on the comdoll scoreboard yesterday as it struggled to keep its gains against the dollar. NZD/USD dropped to a low of .7582 during the Tokyo session before rallying to close the day with a measly 4-pip win at .7631.
It might have been the negative reading we saw on the NBNZ Business Confidence report for March that dragged down the com-doll. As I mentioned yesterday, business confidence dropped to -8.7 during the month from 34.5 in February.
I guess all the negative data finally caught up with the Kiwi. I wonder if the 3.1% uptick in the third-tier manufacturing sales report for the fourth quarter of 2010, which follows a 0.1% increase in Q3 2010, will be enough to provide the Kiwi with some support on the charts. Err, I wouldn’t really keep my hopes up for that. It may be better for you to gauge market sentiment to help you with your Kiwi trades.
Be careful out there, okay? Remember that today is an NFP Friday and we could see some wild moves on the charts!
The Kiwi’s win last Friday was simply effortless! It didn’t need any support from New Zealand data to forge a new two-month high against the Greenback. It kicked back, relaxed, and let rising commodities carry NZD/USD up from .7361 to .7669
No data from New Zealand, but once again, rising commodities drove the Kiwi and its comdoll brethren higher up the charts.
Aside from that, it also received a nicely-timed boost against the USD when Fed member William Dudley let out a few dovish remarks after the better-than-expected NFP report was released. According to Dudley (no relations to the WWE’s Dudley Boyz), he doesn’t see why the Fed should change its loose monetary policy even with the better-than-expected NFP results.
We won’t have much New Zealand data to work with this week… which means it’s time to party!!! Psych! Y’all know that’s not how we roll! The markets will always present us with opportunities to trade.
We’ve got a major report due to come out later at 10:00 pm GMT-- the quarterly NZIER business confidence report. Look for a Kiwi mini-rally to occur if results come in better than Q4 2010’s reading of 8. New Zealand’s economy has been shaky lately (remember the double-dip warnings?) and an improvement in business confidence would indicate optimism for the coming months.
Up, up, here we… Bam! The Kiwi was looking to extend its winning streak against the dollar to five days when it got rejected at the .7700 handle. NZD/USD wasn’t able to hang on to its 7-week high at .7705 and closed the day at .7680 with a 6-pip loss.
Without any high-caliber economic report on tap, I guess it wasn’t much of a surprise to see the Kiwi take a break from its rally. The only data released yesterday was the ANZ Commodity Prices for March which showed that the global prices of exported commodities increased by 4.7% during the month after printing a 2.7% uptick for February.
I’m not sure if the Kiwi will be able to make a comeback in today’s trading though. Earlier, the highly-anticipated NZIER Business Confidence report for the first quarter of 2011 came in at -27 following the previous quarter’s reading of 8. Yikes! Remember that a figure below zero is taken to be a sign of pessimism.
According to the report, businesses were just overwhelmed by the bad vibes brought about by the 6.3-magnitude earthquake in Christchurch.
We don’t have anything left on tap on our economic calendar from New Zealand today so make sure you gauge market sentiment to help you with your trades. Take note that the comdoll usually rallies in times of risk appetite. Good luck!
Just like Triple H, the Kiwi tapped out of joust against the dollar yesterday. The two currencies wrestled for pips all the way to an intraday high of .7724 before the dollar got the upper hand and pushed NZD/USD to close 3 pips lower from its opening price at .7676.
Perhaps it was the NZIER Business Confidence report that cost the Kiwi its win against the dollar. As I mentioned yesterday, the report showed that sentiment turned sour during the first quarter of 2011 as the ill-effects of the Christchurch earthquake sank in. The index printed at -27.0 following the 8.0 reading we saw in December.
We don’t have any major report listed on our economic calendar for both New Zealand and the U.S. today, so you may want to tune in to market sentiment and the commodity markets to help you with your Kiwi trades. Peace out!
“Wheee!” yelled the Kiwi yesterday as it chalked up another new high against the Greenback. NZD/USD topped at .7808, 132 pips higher than its open price of .7676. Rock on, Kiwi!
New Zealand didn’t release any big reports yesterday, which means that the Kiwi’s rally was mostly a result of improved risk appetite in the markets. On top of that, commodity prices have been soaring like crazy, with gold and oil reaching fresh record highs. That’s certainly great news for the comdolls!
There aren’t any red flags on New Zealand’s schedule for today, leaving risk sentiment and commodity prices as the main drivers of the Kiwi’s price movement again. Bear in mind that a couple of monetary policy statements are on today’s docket and these could have a huge impact on market sentiment.
With a mini-wave of risk aversion hitting the market late yesterday, the Kiwi was unable to build on its nice rally the day before. Still, the losses were minimal as NZD/USD closed just 11 pips lower to end at .7788.
No economic data on deck today from New Zealand, but that doesn’t mean you can take off early for the weekend!
Make sure you keep an eye out for reports from other countries, as they could serve as catalysts for big moves in the market. In particular, keep an eye out on the U.S., as the countdown to a potential government shutdown has begun. Who knows how the markets will react to this! Good luck today playaz!
Uh-huh, you know what it is! KIWI POWER YO! With risk appetite back in style, traders gobbled up the Kiwi and pushed NZD/USD up another 32 pips to close at .7819.
You don’t need economic data to convince traders to buy up the Kiwi! All you need is a bit of risk-taking, baby! Commodities and the comdolls were in demand last Friday as traders were willing to take risks with higher-yielding assets.
The only notable event for New Zealand this week is the REINZ HPI due later today. After printing in the red for two consecutive months, the index printed a surprising 2.3% rise in February. If March can manage to follow up with an uptick of its own, it could be enough to spur a mini-rally from the Kiwi.
Easy come, easy go! Just as quickly as Kiwi buyers had swooped in to buy the Kiwi last Friday, they disappeared to abandon it yesterday! With commodities sliding back, the Kiwi lost support against the Greenback, causing NZD/USD to drop 33 pips to .7793.
Even with credit card spending rising by 0.5% in March, an improvement from the 0.4% growth in February, the Kiwi was unable to hit fresh highs against the dollar. Broad Greenback strength and a huge drop in oil prices double-teamed the Kiwi to hold it down.
Again, no heavy reports coming from New Zealand today. For now, it’s best you keep yourself in the loop with what’s happening in Libya. Word on the street is that Gaddafi accepted an African Union Peace Plan yesterday, which is what caused oil prices to falter. But the peace plan, which was designed to end the violence in Libya, was rejected by rebels because they want Gaddafi to resign as well.
It seems to me like Gaddafi is beginning to give in to his opposition’s demand. If he shows more signs of weakness (or if he resigns), it could help ease rising oil prices and spark a round of risk appetite that could send the Kiwi flying!
Bada-bing, bada-boom! Even with no data on deck, the Kiwi managed to shake off some early losses to climb up the charts. After hitting an intraday low at 0.7745, NZD/USD climbed almost 100 pips to finish at 0.7835, enough for a 43 pip gain on the day.
The Kiwi’s rise was a little surprising, considering how we saw some waves of risk aversion in the markets. The IMF downgraded forecasts for the U.S. and Japan, while Japan also got hit with some earthquakes yesterday. Meanwhile, both U.S. stocks and crude oil prices fell as well.
You would think that the Kiwi, a comdoll that has been flowing to the beat of risk sentiment lately, would follow suit and drop. But nope, that’s not what happened! What a crazy market we trade in ain’t it?!
No news on deck, but as usual, keep an eye out for data coming out from other countries, as any surprises may serve as a catalyst for Kiwi trading today.
Hi-ho, hi-ho, it’s up the charts we go! Staying true to its uptrend, the Kiwi continued hiking up the charts yesterday as the comdolls sought higher ground. When all was said and done, NZD/USD closed 45 pips higher at .7885.
What’s up in New Zealand? Apparently, prices are! Early yesterday morning, it was revealed that both house prices and food prices ticked up last month. The REINZ HPI showed a 0.5% increase in March to follow up the 2.3% rise in February. At the same time, the FPI, which measures food prices, surged 0.3% last month. This was a nice pick up from the 0.1% increase that was seen the month before.
So does this mean we’ll see a rate hike soon? Keeping in mind the fact that New Zealand just narrowly escaped falling back into recession, probably not! But it is a step in that direction! If New Zealand can begin to show more convincing signs of recovery and inflationary pressures build up, it might not be long before we hear the newswires buzzing with rumors of an RBNZ rate hike.
In other news, the Business NZ manufacturing index downgraded its reading from 53.2 to 50.1 last month. It appears that although the industry expanded last month, its rate of growth has drastically declined.
No more data on tap today. In the meantime, keep your eyes peeled for the U.S.’s releases and the G7 meetings scheduled today. These events could affect your trading if you plan on playing NZD/USD today. Good luck, and may the pips be with y’all!
Judging from how it moved yesterday, it seems that NZD/USD is a real fan of roller coasters! From its day open price of .7887, the pair climbed to .7957, fell back to Asian lows and then rose [B]AGAIN[/B] to close the day at .7935. What a woozy!
The shifting market sentiment had much to do with the pair’s crazy movement. On the one hand, investors were afraid that Greece would need to restructure their debt, which dampened demand for commodity-based currencies. On the other hand, traders also didn’t want to put their money in the U.S. dollar, as they were skeptical that the U.S. could resolve its budget deficit issues given the huge division in the government.
Today, the market’s focus will shift to Chinese data. If the GDP and CPI reports that will at 2:00 am GMT turn out to be positive (i.e., better than expected), we could see risk appetite take hold of the market again and help give NZD/USD a boost. Check out our forex economic calendar for that!
Despite being named after a flightless bird, New Zealand’s currency skyrocketed to a new three-year high against the dollar at .7997 amid rising commodity prices. The Kiwi inched a tad lower towards the day’s close and parked at .7991 with a 56-pip win. Boo yeah!
I’m not sure if the Kiwi will be able to get enough air on the charts today though. Earlier, NZD/USD crashed more than 50 pips after the CPI report for the first quarter of 2011 disappointed the consensus. Ouch! Consumer prices for the first three months of the year only rose by 0.8% and fell short of the 1.0% forecast.
Hmm, I wonder if the negative vibes from the report will continue to weigh on the Kiwi in the coming trading sessions given that New Zealand won’t be releasing any high-caliber economic report for the rest of the week. What do you think?
Gooooodddbyeeee, 'twas nice knowing you! After testing the .8000 handle, Kiwi bulls disappeared, which led to NZD/USD closing almost 100 pips lower for the day at 0.7913. The question is, can the Kiwi make a comeback like that once famous band Incubus?
Aside from risk aversion weighing down higher yielders, the Kiwi also took a hit because the quarterly CPI report showed that inflation was actually lower than initially believed. The report showed that prices rose just 0.8% over the first quarter, after it was expected to hit 1.0%. Year-on-year, inflation came in at 4.5%.
Take note, the markets notice whenever inflation reports are released. One of the major market themes right now is interest rates. If a report shows that inflationary pressures are not as strong as initially thought, it could give central bankers less reason to keep hiking interest rates.
Now, the RBNZ isn’t expected to raise rates over the next couple of months, but let’s see how this develops over the year. Some believe that the RBNZ may look to raise rates later this year, but if subdued inflation becomes the new trend, then central bank may have to rethink its strategy.
Altogether now, “Loser!” The Kiwi got picked on by bears during yesterday’s trading, becoming the only comdoll to score a loss against the dollar. After NZD/USD tumbled to a low of .7822, the Kiwi was only able to recover part of its losses and end the day 31 pips lower from its opening price at .7879.
Perhaps the lack of economic reports cost the Kiwi its pips yesterday. Hmm, I wonder if bears will still be all over it in today’s trading given that our economic calendar is still blank for reports from New Zealand. Just don’t get too excited though. Who knows, there may be enough risk appetite to go around and spur the Kiwi to a win.
Like its comdoll buddies, the Kiwi enjoyed a good round of risk appetite in markets. NZD/USD ended the day with a 71-pip gain at .7950 after hitting an intraday high of .8009. And to think New Zealand didn’t even release an economic report!
Let’s see if the Kiwi bulls can keep their momentum today when New Zealand publishes its credit card spending report for March at 4:00 am GMT. Also, you could keep tabs on comdoll sentiment as Australia releases its PPI report for the fourth quarter at 2:00 am GMT, while Canada will pump out its retail sales figures at 1:30 pm GMT.
The Kiwi’s price action was limited last Friday as New Zealanders hit the weekend off early. NZD/USD traded within a tight 36-pip range and ended the day 6 pips higher from its opening price at .8020.
Hmm, with today still being a holiday in New Zealand, I wonder if the Kiwi will continue trading sideways. Don’t worry though. We have a handful of top-tier economic reports on tap to rock com-doll this week!
On Wednesday at 3:00 am GMT, the NBNZ Business Confidence report for April will be released. A figure better than February’s -8.7 reading will most probably be bullish for the currency as this would indicate improving sentiment among businessmen.
Then at 9:00 pm GMT, RBNZ Governor Alan Bollard will take center stage as he announces the central bank’s interest rate decision. Analysts aren’t keeping their hopes up for a rate hike, but that doesn’t mean the statement will be a non-event for the Kiwi. Keep an ear out for clues about the RBNZ’s future rate hike decisions!
Last but certainly not the least, we’ll have the trade balance report for March to look forward to on Thursday at 10:45 pm GMT. Take note that exports are expected to have outpaced imports by 204 million NZD during the month. If you’re planning to bet your pips on the Kiwi, keep your fingers crossed for a better-than-expected figure!
Up, down, up, down… Boy, did NZD/USD make me dizzy yesterday! After the pair’s very slow and sideways movement last Friday, NZD/USD burst into life and ping-ponged fiercely between .8038 and .7974. At the end of the day, the pair was 15 pips lower from its opening price.
Will we see NZD/USD move the same way today? Even though there’s nothing will come out of New Zealand in terms of economic data, we could see some strong one-directional moves since traders will be piling back to their trading desk after the very long Easter holiday. Watch price action closely for possible trend plays homies!
Yowza! Did y’all see the Kiwi fly to its new three-year high against the dollar during yesterday’s trading? Yup it did! NZD/USD peaked at .8071 before closing 63 pips higher from its opening price at .8064.
As I said yesterday, we didn’t have anything on tap from New Zealand. Luckily for the Kiwi, traders still weren’t digging the dollar and continued to prefer other currencies.
Oh, and I have a feeling the NBNZ Business Confidence report may just give the bulls more reason to buy NZD/USD! After coming in at -8.7 for March, the index printed at 14.2 for April. Boo yeah!
Don’t get too crazy buying the Kiwi though. Remember that the RBNZ interest rate decision is scheduled later tonight at 9:00 pm GMT. It is expected that the official cash rate will be left unchanged at 2.50% but be on your toes for a dovish tone from RBNZ Governor Alan Bollard as this may send the currency lower on the charts. Good luck!
What a bore! Due to the absence of high-profile economic reports from New Zealand, NZD/USD ended the U.S. trading session barely changed from its day open price. NZD/USD closed at .8077, a mere 13 pips higher.
Earlier today, however, the Kiwi dropped like a rock as a result of the RBNZ keeping rates unchanged at 2.50%. According to Reserve Bank of New Zealand President Alan Bollard, the outlook for core inflation and the impact of the earthquake gave them no reason to raise rates. He even added that interest rates would probably be appropriate for some time. I think it’s pretty clear that we won’t be seeing any rate hikes from the RBNZ soon!
For today, the only data release is the country’s trade balance. The trade balance is expected to show a 204 million NZD surplus, which is slightly higher than the previous month’s surplus of 194 million. The report doesn’t usually have a strong impact on NZD/USD, but still do pay attention to the actual results. You never know if the next release will be the exception!
Good luck trading folks!