Hey hey hey! The little man’s got game! The Kiwi put up awe-worthy numbers yesterday as it climbed and hit a new three-year high against the Greenback. Even with no data to support its rally, NZD/USD was able to close above .8100, 120 pips higher for the day.
Aside from the positive spillover of Australia’s better-than-expected capital expenditure report, the Kiwi got a boost from a little piece of news from China. Word on the street is that China is setting aside 1.5% of its reserves to invest in New Zealand assets.
Sure, 1.5% doesn’t sound like much, but when you consider the enormous size of China’s currency reserves, it could actually translate to around 6 billion NZD worth of investments! That ain’t nothing to laugh at, kids!
No reports comin’ out today, so there’s a chance the Kiwi’s bullish momentum will continue lifting it higher. But keep in mind that sentiment can change on a dime, so it’s important to stay flexible!
Talk about record-breaking! The Kiwi made new highs against the U.S. dollar last Friday, boosted by news that China would be investing in New Zealand. NZD/USD broke above the .8100 area and reached a high of .8199 that day. It even gapped higher over the weekend, which means we might see more Kiwi strength this week.
Aside from the improvement in risk appetite, weak economic data from the U.S. was also one of the factors that drove NZD/USD to new highs. Check out my U.S. economic commentary to see which reports pushed the Greenback lower.
Just a few hours ago, New Zealand reported that its trade surplus widened to 1.11 billion NZD in April. That’s a huge leap from their trade balance in March, which was revised upwards to show a 578 million NZD surplus. Make that another new record high for New Zealand! Components of the trade balance revealed that exports amounted to 4.7 billion NZD during the month, which was also a record high. Way to go, New Zealand!
This week, they are set to release their NBNZ business confidence index for May. The index could post an increase over the 14.2 reading in April as economic prospects in the country keep improving. Make sure you stay tuned for the actual figure due 1:00 am GMT tomorrow.
On Wednesday 1:00 am GMT, we’ll see the results of the ANZ commodity prices report. Price levels are expected to post another increase for April, on top of the 1.4% jump seen last March, which could be bullish for the commodity-related Kiwi. Then, on Thursday 10:45 pm GMT, New Zealand will release its building consents report for April. Stronger than expected figures could allow NZD/USD to set another new record high so watch out for that!
High five! Or should I say high twenty-five? After its Barcelona-like performance against the Greenback last Friday, NZD/USD went above .8215 and reached a 25-year high yesterday. Boo yeah!
No reports were released from New Zealand yesterday, but I have a feeling that Kiwi traders were still reeling from the better-than-expected trade balance report early this week.
Will the U.S. and U.K. traders, fresh from their long weekends, continue to push the Kiwi higher in the charts? The NBNZ’s business confidence report jumpstarted the markets early today when it printed an index figure of 38.3 in April from its 14.2 figure in March.
Only the overseas trade index at 10:45 pm GMT is scheduled for today, so the Kiwi might also react to risk sentiment today. Keep an eye out for any strong movements, aight?
Reaching for record highs must’ve been really exhausting for the Kiwi, which was probably why it had to take a breather yesterday. NZD/USD stalled below the .8250 mark and closed at .8242. Will today’s reports jump start another Kiwi rally?
Yesterday, New Zealand reported that business confidence improved immensely in May. Their NBNZ index of business confidence jumped from 14.2 in April to 38.3, indicating that businessmen are much more optimistic about New Zealand’s economic prospects.
Today, the ANZ commodity prices report is due at 1:00 am GMT. In April, commodity prices reportedly rose by 1.6% but we might be in for a weaker increase for May. Bear in mind that commodities made huge pullbacks in the middle of the month, and a negative ANZ figure could force the Kiwi to retreat.
Another report that could affect the Kiwi’s action today is the Australian GDP report. Make sure you check out Forex Gump’s fearless forecast for the Australian GDP as well as my Australian economic commentary to find out how it could affect the comdolls. Good luck!
Risk off! NZD/USD fell 80 pips as yesterday’s bout of risk aversion had traders cowering away from the high-yielding Kiwi towards the safe haven dollar. Ain’t nobody buyin’ the Kiwi in times like these!
We saw a classic case of risk aversion yesterday after the U.S. printed horrific ADP non-farm employment change data. This had traders wetting their pants in fear of the NFP printing highly disappointing results as well.
Will New Zealand’s building consents data turn the tables in favor of the Kiwi? The report is due at 10:45 pm GMT and it could provide a bit of relief from the selloff if it prints a better figure than the previous month’s 2.2% rise. But remember, the markets have been very risk averse lately, so I wouldn’t be TOO bullish for the Kiwi today.
Rock a bye Kiwi on the tree top… NZD/USD looked like it was being lulled to sleep yesterday as it moved lazily across the charts. The pair simply swung back and forth between the .8163 open price and the .8115 area. Let’s take a peek at today’s economic schedule for New Zealand to see whether which reports could wake the Kiwi up.
New Zealand didn’t release any reports yesterday, which explains the Kiwi’s range-bound movement. But just a few hours ago, their building consents figure for April was released. This report showed that building approvals issued for the month dipped by 1.6%, erasing part of the 2.0% increase seen last March.
No other reports are due from New Zealand for today but, if you’re trading NZD/USD, make sure you stay on your toes during the release of the U.S. jobs report because it could have a huge impact on risk sentiment. Check out my U.S. economic commentary and Forex Gump’s “Quick Guide to Trading the NFP” so you’re in the loop!
After trading lower to start the day, the Kiwi made a strong comeback during the New York session. NZD/USD traded as low as .8073 before recovering to close at .8150, marking a loss of just 13 pips for the day.
No biggies over the next few days, but watch out on Wednesday when the RBNZ releases its interest rate decision. Expectations are that the central bank will not be raising rates and that should be expected considering the state of the economy. Watch out though for the accompanying statement as it could signal which way central bankers are leaning in terms of monetary policy.
A slight wave of risk aversion kept the Kiwi from advancing up the charts yesterday. No worries though, as the damage wasn’t too significant. NZD/USD closed just 22 pips lower to finish at .8133.
Nothing coming out from New Zealand today but watch out for the RBA rate statement coming in at 4:30 am GMT. While the RBA ain’t expected to raise rates just yet, you never know what might be said in the accompanying statement. If central bank officials were to come out hawkish, it may give the Aussie a nice boost, which may benefit the Kiwi as well.
That was downright tight, son! Thanks to New Zealand’s tighter budget deficit, the Kiwi looked tight on the charts! Buyers just couldn’t get enough of it as they pushed NZD/USD up from .8132 to .8203.
Yesterday, we got news that New Zealand posted a tighter budget deficit. It seems stronger growth and fewer tax refund claims helped bridge the gap between New Zealand’s spending and its revenues. This, along with improved risk appetite, was all the Kiwi bulls needed to gain control of NZD/USD!
Kiwi traders have got a big day ahead of ‘em with the RBNZ rate statement due at 9:00 pm GMT. Yeah, no one’s expecting the central bank to deliver a rate hike, but it doesn’t mean we won’t get any action. If the RBNZ dishes out hawkish words, which, given New Zealand’s tighter budget, isn’t an impossibility, it could cause the Kiwi to continue heading north!
B-b-boo y-y-yeah!!! Thanks to a rather positive tone by the RBNZ, NZD/USD soared higher earlier today. After closing 50 pips lower at .8153 yesterday, the Kiwi is now trading at this week’s highs around .8225. Could the pair make a run for the .8300 handle?
No, the RBNZ didn’t raise rates, but from what was said in the accompanying statement, it looks like RBNZ Governor Alan Bollard and his men are quite pleased with the progress of the economy. Business confidence is on the up and up, and companies are expected to start spending and hiring in the coming months. The only problem right now is that the Kiwi is mad strong, which could hurt exporters down the road.
In any case, it seems as if traders took the positive comments a sign that the RBNZ won’t be needing another rate cut and will most likely be looking to raise rates later this year.
No hard data coming out for the rest of the week, but watch out for Bollard’s speech tomorrow at the Institute of Director’s lunch at 12:00 am GMT. He might just deliver some more comments regarding interest rates, so be careful if you plan to keep any Kiwi positions open overnight!
Whoever said the Kiwi couldn’t fly was dead wrong! Thanks to the RBNZ’s optimism, NZD/USD skyrocketed to a new all-time high at .8302 before ending the day 114 pips higher from its opening price at .8268. Boo yeah!
Although the RBNZ kept interest rates steady at 2.50%, RBNZ Governor Alan Bollard expressed his high hopes for the New Zealand economy. He hinted that the bank could ease up on its stimulus by the end of the year, given the improvement in economic data that we’ve recently seen.
However, market junkies say that a rate hike would largely depend on the strength of the Kiwi. If the currency remains at its highs, the bank would probably be more hesitant to start tightening.
Nothing on tap for the Kiwi on our forex calendar today, so make sure you gauge market sentiment to help you with your trades. Good luck!
With risk aversion taking over the market, the Kiwi was just one of the dollar’s many victims. NZD/USD gave back some of its gains from Thursday, closing 52 pips lower at .8216.
Aside from the wave of risk aversion that drove commodity prices lower, the Kiwi may have taken a hit thanks to some profit taking to end the week. NZD/USD was hitting all-time highs thanks to some bullish comments by RBNZ Governor Alan Bollard, so some traders may have felt that the run was over extended and decided to book some profits.
Still, I don’t see the Kiwi taking huge losses down the road. With the RBNZ being rather hawkish and with the economy recovering well, the New Zealand dollar should remain strong.
The biggest report coming out from New Zealand this week is the quarterly retail sales report, which is scheduled for release tomorrow at 10:45 pm GMT. Headline and core sales are expected to have grown by 1.0% and 0.7% during the 1st quarter, decent figures considering that the country was hit with an earthquake earlier in the year.
Bears rocked the Kiwi in the charts as another earthquake hit New Zealand. Yikes! After opening at .8214, NZD/USD tumbled to a low of .8115. It then ended the day 53 pips lower from its opening price at .8161, making it the only commdoll to score a loss against the dollar in yesterday’s trading.
From what I’ve heard, aftershocks in Christchurch yesterday registered a magnitude of 6.3. Consequently, the news spooked investors away from the Kiwi. Heck! Naysayers even think that we may not hear an interest rate hike from the RBNZ because of this calamity!
Let’s see if the retail sales report later will be able to woo in investors to the Kiwi. Due at 10:45 pm GMT, consumer spending is seen to have rebounded in April with the forecast up at 1.0%, following the 0.1% decline in March. Excluding volatile items such as food and gas, the core retail sales figure is eyed at 0.7%.
A better-than-expected figure may just boost the Kiwi back up to its highs so watch out!
Score one for the Kiwi! After experiencing heavy losses on Monday, the Kiwi was able to rebound and post a respectable gain in yesterday’s trading session. NZD/USD rose 18 pips while NZD/JPY climbed 36 pips.
No important economic release to speak of yesterday, but earlier today, New Zealand’s retail sales came out. The headline version reported a 0.9% gain while the core report which excluded volatile items such as automobiles and gas in its computation printed a 0.7% increase. The actual results were mostly in line with expectations, so there was very little impact on the Kiwi.
Today, the only important economic release is the Westpac consumer sentiment survey. Last month, the report printed a reading of 97.9. If the actual figure comes in higher than that, it could help the Kiwi continue its rally. The result will come out at 10:00 pm GMT.
The Kiwi lived up to its name in yesterday’s trading as NZD/USD came crashing down the charts after it attempted to take flight from its opening price of .8178. At the end of the day, the comdoll landed at .8066, sustaining a 112-pip injury.
Aside from risk aversion stemming from Europe’s debt woes and disappointing U.S. data, perhaps the not-so-impressive retail sales report from New Zealand might have kept the Kiwi from flying up the charts.
Consumer spending for May fell short of the 1.0% consensus when it came in at 0.9%. Meanwhile, excluding volatile items such as food and fuel, core retail sales printed just as expected at 0.7%.
I wonder if the positive consumer sentiment report we saw earlier today has spurred enough positive vibes to keep the Kiwi from falling further down the charts.
According to Westpac, consumer confidence improved in the second quarter of 2011. The Westpac consumer sentiment index came in at 112.0 after printing at 97.9 in Q1 2011.
Better make sure you gauge market sentiment first before you get in on any trade. Good luck!
No special treatment for the Kiwi! Even though New Zealand pumped out a couple upbeat reports early in the morning, the Kiwi wasn’t spared from the risk aversion selloff. NZD/USD ended the day 15 pips lower at .8035 after dipping to an intraday low of .7971.
You’d think that the Kiwi would get some sort of rally going after seeing consumer confidence bounce… but that wasn’t the case yesterday! Even though the Westpac consumer confidence index jumped from 97.9 to 112.0, Kiwi bulls couldn’t get their groove on.
Even upbeat results from the Business NZ manufacturing index couldn’t lift the Kiwi. The fact that it ticked up from 52.0 to 54.7 didn’t seem to interest markets.
Sadly, that’s the last taste of New Zealand data we’re gonna have this week. In the meantime, be sure to keep tabs on risk sentiment as it’s been the main market driver in the past couple of days.
Who needs economic reports when you got risk appetite pumping a comdoll rally? No economic reports were printed from New Zealand last Friday, but the Kiwi enjoyed a nice rally against the Greenback when NZD/USD capped the week at 108 pips above its intraday low at .8122.
Aside from an improvement in appetite for high-yielding currencies, the Kiwi bulls might have gotten their swag from New Zealand’s better-than-expected reports released early in the week. After all, it’s only a matter of time before traders price in strong retail sales and consumer confidence numbers.
Let’s see if the Kiwi can keep its game on this week when the visitors arrival report is released today at 10:45 pm GMT. The quarterly manufacturing sales for the first quarter already clocked in a 2.9% increase a few hours ago, a notch less than the 3.0% rise seen the previous quarter.
Speaking of quarterly reports, we’ll see the country’s current account report tomorrow at 10:45 pm GMT. Analysts are expecting the value of imports to exceed the value of exports by 3.89 billion NZD from the fourth quarter’s 3.52 billion NZD, but a weaker figure might send the Kiwi back to the chart deeps.
Good luck in your trades today, homies!
Due to the absence of high-profile economic data from New Zealand, NZD/USD mainly traded in a tight range yesterday. It found support around the .8050 region and topped out at .8120. At the end of the U.S. trading session, the pair sat at .8091, just 8 pips lower from its opening price that day.
If you’re itching for direction today, then you might get disappointed. New Zealand lacks economic reports on its calendar, which means NZD/USD could once again trade sideways. Keep an eye on the previous day highs and lows folks, as they could very well hold!
Score one for the comdoll! The Kiwi joined the comdoll bandwagon yesterday and strengthened on broad Greenback weakness. NZD/USD closed with a 29-pip climb after reaching an intraday high of .8147.
Of course, it’s not too hard to buy the Kiwi when New Zealand also printed a better-than-expected report. The country’s current account deficit only printed at 0.10 billion NZD after clocking in a 3.63 billion NZD deficit in the fourth quarter last year. Since the New Zealand economy highly depends on its exports, a lower deficit is favored by investors.
Will the Kiwi bulls keep up their swag today? Only the credit card spending report at 3:00 am GMT is scheduled for release today, but word on the market airwaves is that the Fed will also be releasing its FOMC meeting minutes today at 4:30 pm GMT. What big Ben says will most likely affect the dollar pairs, so make sure you stick around for the report!
The Kiwi was off to a strong start as NZD/USD rallied above the .8150 mark during the Asian session. However, the pair was forced to retreat when the U.S. FOMC statementwas released. NZD/USD closed at .8145, just 27 pips above its .8118 open price. Will the Kiwi be able to take flight today?
Better than expected current account figures from New Zealand lifted the Kiwi during the early Asian session. The current accountdeficit came in at 0.10 billion NZD for the first quarter of 2011, much smaller than the expected 2.47 billion NZD shortfall for the period. This was also way better than the previous quarter’s 3.63 billion NZD deficit.
New Zealand won’t be releasing any economic data today, which means that risk sentiment could be the main driver of the Kiwi’s price movement. If you’re planning to trade NZD/USD, you might want to drop by Happy Pip’s Comdoll Corner for Kiwi pairs to see what other traders think!