NZD/USD was on a downtrend for the most part of yesterday’s trading but when it tapped the .7900 handle, the pair quickly reversed its direction! Too bad the bulls didn’t have enough fuel to end thee day with a win. By the day’s close, NZD/USD was at .7954, 5 pips below its opening price.
With our forex calendar still blank for reports from New Zealand today, it might be a good idea to keep close tabs on market sentiment as it looks like the Kiwi merely went with the market’s mood in yesterday’s trading. Keep in mind that it usually rallies when risk appetite is in play.
Fly, Kiwi, Fly! That’s exactly what the comdoll did in Friday’s trading as risk appetite lingered in the markets. After dipping to an intraday low of .7909, NZD/USD skyrocketed to its closing price at .8051 with a 97-pip gain.
Aside from the developments in Europe’s sovereign crisis, China’s lower-than-expected inflation report also boosted the comdolls as it gives the PBOC one more reason not to hike interest rates. (You can read up more about it in my AUD commentary.)
Our forex calendar is blank for reports coming from New Zealand today. Make sure you get a good feel of the market’s mood, ayt? If risk appetite continues to dominate market sentiment, we may just see the Kiwi rally higher up the charts!
Uh, oh! It looks like the Kiwi’s rally is running out of steam. After reaching an intraday high of .8069, NZD/USD crashed and burned on the charts yesterday, closing 130 pips below its opening price at .7921.
As you’ve probably heard by now, risk aversion came back to haunt the markets. German officials burst the bubble of giddy investors who were hoping to hear that policymakers have a plan to solve the debt crisis. (You can read more about it in my EUR commentary.)
With that said and given that we still don’t have anything on tap for the Kiwi today, be sure to keep tabs on market sentiment. Remember that the Kiwi usually rallies when risk appetite is up. Good luck!
Stay strong, Kiwi. Despite risk aversion from the weaker-than-expected Chinese GDP, the Kiwi was able to stay afloat in yesterday. After dipping as low as .7861, NZD/USD actually closed the U.S. trading session at .7952, which was 30 pips higher from its opening price that day.
As I mentioned in my other roundups, the Chinese GDP figures dampened risk sentiment when it revealed that growth only stood at 9.1%. You might be thinking that’s a good figure, but it is actually the lowest growth China has seen in 2 years.
No data coming out of New Zealand today so pay attention instead to reports from other major economies like the U.S. and the euro zone. A couple of important economic events are lined up that could have an indirect impact on the Kiwi’s value.
Without any economic data on tap from New Zealand, the Kiwi just went through the motions in yesterday’s trading like a leaf drifting on the sea. NZD/USD got rejected from resistance at the .8000 psychological handle and ended the day 39 pips below its opening price.
It would seem like the comdolls got sold-off on the disappointing Beige Book report from the U.S. So with that said and given that our forex calendar is still blank for reports from New Zealand, be sure to keep tabs on the reports we have from the U.S. Head on over to my USD commentary to find out what we have scheduled for today. Good luck!
Up and down the Kiwi had gone, where it ended up… I know! The Kiwi went everywhere yesterday as risk sentiment kept shifting intraday. First was a strong a round of risk appetite which resulted in a strong Kiwi rally. Once the U.S. session rolled along, however, the move up was reversed and the Kiwi dropped back down to its Asian lows. After that, the Kiwi rallied again to end the day at .7942, just 28 pips higher from where it began that day.
There weren’t any important economic releases from New Zealand yesterday so the Kiwi’s movement could be result of the uncertainty surrounding the upcoming EU summit. On the one hand, some traders were optimistic about the meeting, thinking that euro zone’s debt crisis would finally have a solution. On the other hand, some traders still remained doubtful that anything would happen.
New Zealand’s economic calendar will be empty today so events in the euro zone will probably be the driving force behind the Kiwi’s price action again. Keep tabs on the results (as well as expectations) of the upcoming EU summit!
Back-to-back, baby! The Kiwi capped the week with a back-to-back win against the Greenback last Friday when a positive credit card spending report and a risk-on environment in the markets pushed high-yielding currencies higher across the board. NZD/USD found support at the .7900 handle before it shot up to a closing price of .8028. Boo yeah!
Aside from the good vibes brought about by the euro zone finance ministers’ meeting ahead of the weekend, the Kiwi bulls also got a boost from New Zealand’s positive credit card spending report. The data clocked in a 5.2% growth in September after rising by 4.7% in August. Hmm, is it because the consumers are feeling the Christmas spirit early this year?
Let’s see if New Zealand can keep up its string of better-than-expected data this week with all the tier 1 economic reports scheduled for release.
The party will start today at 9:45 pm GMT when the quarterly CPI report is released. The data is expected to come in at a slightly weaker figure than the second quarter’s 1.0% rise, but a downside surprise could drag on the Kiwi.
If the inflation report isn’t enough to get your adrenaline pumping, then you might want to trade the RBNZ interest rate decision on Wednesday at 8:00 am GMT. While the interest rate is expected to remain at 2.50% in November, any hawkish comments from the central bank might support the Kiwi bulls into pushing the currency higher.
Also due for release on Wednesday are the NBNZ business confidence report at 12:00 am GMT and New Zealand’s trade balance report at 9:45 pm GMT. Those are big-hitting reports, so make sure you’re around to trade them, aight?
Once again, thanks to the market’s appetite for risk, the Kiwi was able to stage a magnificent rally yesterday. NZD/USD, for instance, rose t o.8071 from .8021, and marked its third straight day of winning. It looks like market participants are getting very optimistic that European financial officials will be able to come up with a plan to solve euro zone’s debt crisis!
Earlier today, however, the Kiwi fell slightly due to a disappointing CPI. The CPI for the third quarter only showed a 0.4% increase in prices, almost half the expected figure. It was also a decline from the previous quarter’s 1.0% rate.
The only data left on New Zealand’s economic calendar is the NBNZ business confidence survey. Last month, we saw the survey print a 34.4 reading. Anything higher than that will probably be taken positively by the market and support the Kiwi. The actual figure will be released 12:00 am GMT.
With no economic reports released from New Zealand yesterday, the Kiwi was vulnerable to the price action of the comdoll bandwagon. NZD/USD retreated by 111 pips and closed at .7961 after reaching an intraday high of .8080.
As I mentioned in my AUD and CAD posts, risk aversion took its toll on the comdolls when uncertainty in the euro zone began to creep in the markets.
I’m guessing that it won’t help the Kiwi either that the NBNZ business confidence report released a couple of hours ago came in at an index reading of 13.2 in October after clocking in at an index number of 30.3 in September.
Let’s see if the RBNZ interest rate decision at 8:00 pm GMT will turn things around for the comdoll. Though analysts don’t expect any change in the central bank’s interest rate, it will be interesting to see if how dovish or hawkish the RBNZ will be. Will it follow the RBA and still consider an interest rate hike, or will it mirror the BOC’s dovish stance?
Also scheduled for release today is New Zealand’s trade balance report coming out at 9:45 pm GMT. Many expect the country’s trade deficit to narrow down to 421 million NZD in September from 641 million NZD in August, but a substantial miss in expectations might get significant movements in the Kwii pairs.
Good luck in your trades today, folks!
Chop, chop, chop! No, I’m not quoting Master Chef Gordon Ramsay here. I’m talking about the Kiwi’s movement during yesterday’s trading! At first, price was stuck in tight consolidation around the .7950 handle before breaking down then bouncing back up again. Will the Kiwi make up its mind today?
Surprise, surprise! Just a day after the BOC whistled a downbeat tune and talked about gloomy economic prospects, the RBNZ released their rate statement and hinted that they actually could raise rates soon. That’s right, a possible interest rate hike! Recall that the central bank lowered rates to help New Zealand recover from the earthquake earlier this year and, although they still kept rates on hold at 2.50% during their latest meeting, Governor Alan Bollard suggested that they could remove some stimulus later on.
No reports are set for release from New Zealand today, but the RBNZ’s hawkish tone could keep the Kiwi propped up for today’s trading sessions. If we don’t see a drastic change in risk sentiment, that is! Stay on your toes at all times!
Wham, bam, thank you risk appetite! Thanks to the debt deal reached by the European leaders, NZD/USD rocketed by 262 pips and capped the day at .8206. Boo yeah!
New Zealand didn’t release any economic reports yesterday, but the optimism in the euro region was enough to keep the good vibes coming from the comdolls like the Kiwi.
If you’ve read my EUR report, you’ll know that the EU officials have finally come up with concrete ideas to save the region’s debt. Add to that positive economic reports from the other regions and you got a mean recipe for risk appetite!
The economic boards will be empty in New Zealand again today, but make sure you stick around for any reports that might affect risk appetite!
The Kiwi traded in a perfect “U” pattern last Friday as it fell early in the day but recovered all of its losses before it closed for the week. NZD/USD, for instance, ended the U.S. trading session at .8228, just 20 pips higher from its opening price during the Asian session.
No report was released last Friday but we’ve got a couple of red flags on New Zealand’s forex calendar this week.
Later, at 9:45 pm GMT, the country’s Labor Cost Index will be released. It is slated to show a 0.9% increase, up from the previous month’s 0.5% rise.
On Thursday, data on the country’s labor market will come out. The market is expecting the unemployment rate to fall to 6.4% for the third quarter of this year. The market also predicts that hiring improved by 0.6% from the previous quarter’s flat reading.
Just like its comdoll siblings, the New Zealand dollar traded to the beat of risk aversion yesterday and fell flat on its face. After opening at .8199, NZD/USD found itself trading at .8067 by the end of the New York session, marking a 132-pip loss for the day.
The Kiwi took a hit thanks to poor building consents figures, which indicated that month-on-month approvals fell by over 17% in October. Remember, without government permission, construction of new buildings cannot begin, and this doesn’t bode well for the construction industry. This weakened the New Zealand dollar, causing it to take some bumps and bruises yesterday.
For today, watch out for the RBA interest rate decision, as there is some speculation that it may cut interest rates. This would cause a spike in volatility in the Australian dollar, which would indirectly affect the New Zealand dollar as well.
Just like that, the Kiwi erased its gains from last week faster than you can say “Kim Kardashian filed for divorce!” NZD/USD sank back below the .8000 handle and closed at .7951 as risk aversion gripped the markets yesterday.
New Zealand didn’t release any economic reports yesterday, but risk aversion was just too much for the Kiwi to bear. The RBA’s decision to cut rates by 25 basis points was a blow to the Aussie, which also dragged the Kiwi down. Next, the weaker than expected Chinese manufacturing PMI hurt the commodity-dependent economies, also contributing to the Kiwi’s drop. Last but not least, concerns about the Greek referendum discouraged traders from taking on more risk yesterday and took its toll on the higher-yielding comdolls.
Still, the Kiwi could have a chance to bounce back today if its employment reports come in better than expected. The employment change data is due 10:45 pm GMT today and could show that hiring was up by 0.6% during the third quarter of the year after staying flat in the previous period. This could be enough to bring their jobless rate down a notch from 6.5% to 6.4%, which could be positive for the New Zealand economy and currency.
Three in a row, baby! Kiwi bears extended their winning streak as NZD/USD struggled to stay above its opening price. After a bit of sideways trading, the pair eventually gave in to weak risk appetite and tumbled late in the New York session to post a 38-pip decline for the day. Will Kiwi bears pull off a fourth straight win today?
It seems like we haven’t seen the end of the Kiwi sell-off yet. Just hours ago, New Zealand published its quarterly employment data, and the markets weren’t please with what they saw. The number of employed people rose by 0.2% in Q3 2011, which is less than half the increase that most were expecting to see.
This weak rise in employment took the unemployment rate up from 6.5% to 6.6% rather than down to 6.4% as expected. But as alarming as this sounds, it isn’t actually that bad. The rise in unemployment was mostly caused by a large jump in the number of people in the work force.
Nothing more to see from New Zealand today. In the meantime, set your eyes on the euro zone and the U.S. as they’ve got major events on tap that could affect overall risk sentiment.
And just when we all thought all hope was already lost for the Kiwi, the bulls put their A-game on and boosted NZD/USD from its intraday low of .7807. At the end of the day, the pair settled 42 above its opening price at .7956.
Mind you, the Kiwi was able to end the day despite negative jobs data. It was reported yesterday that the change in the number of employed people in New Zealand only grew by 0.2% and disappointed the market’s 0.5% forecast. On top of that, the unemployment rate was higher at 6.6% in Q3 2011 than it was in the previous quarter at 6.5%. Analysts must have been disappointed after predicting it to come in lower at 6.4%.
Our forex calendardoesn’t have any report scheduled for the Kiwi today, but we do have the NFP report from the U.S. on tap. Keep tabs on it as it could cause a change in market sentiment. Yesterday, news about Greece canceling its plans for a referendum boosted risk appetite. A better-than-expected jobs report from the U.S. may just fuel risk appetite even further. So watch out!
Despite the release of the U.S. non-farm payrolls, NZD/USD’s movement last Friday was nothing special. The pair simply moved sideways, traded within resistance at .7967 and support at .7900, and then closed the day barely changed from its opening price.
No important economic data was released in New Zealand last Friday and the country’s economic schedule this week seems to be very boring! The only major report due is the RBNZ Financial Stability report. It is a media conference that talks about the bank’s view on inflation, growth, and other economic conditions that affect the country. It will be held on Wednesday, at 8:00 pm GMT.
Just like its comdoll siblings, the Kiwi remained within range to start the week. After hitting a high at .7999, NZD/USD retreated to close at .7972, marking just a 17-pip gain on the day.
Once again, we’ve got no data coming out from New Zealand, but that doesn’t mean you can take a chill pill and hit the waves with Pip Surfer (unless of course, you plan to hit the trading waves, which would be perfectly fine!). Make sure to tune in and listen for any developments coming out from Europe, as you never know what may hit the markets. If you aren’t ready, you might just get wiped out!
Slow and easy is the way of the Kiwi. Without any economic data on tap from New Zealand, the comdoll still traded higher against the Greenback. NZD/USD met resistance around the day open price at .7972 a couple of times before finally rallying to close the day at .7986.
Risk appetite must have boosted the comdoll to another win as news of Berlusconi’s impending resignation hit the airwaves.
Without any economic reports from New Zealand today, the Kiwi will most probably take its cue from market sentiment. So be sure to keep an ear out for reports from Europe, ayt?
Talk about a wipeout! The kiwi got murdered yesterday, as a wave of risk aversion swamped the markets. NZD/USD dropped a massive 169 pips, falling all the way down to .7818. Could we see more of the same today?
With Italian yields soaring past the critical 7.0% mark, commodity dollars like the Kiwi took the biggest hits in yesterdays trading. With no hardcore data coming out from New Zealand today, the Kiwi may be prone to more losses as risk aversion continues to unsettle the markets.