Where are ‘em Kiwi bulls at?? NZD/USD ended yesterday’s trading 56 pips below its opening price at .7763, making the Kiwi the only comdoll to score a loss against the dollar.
Without any market-moving data from New Zealand, I guess it wasn’t much of a surprise to see the Kiwi fall victim to market sentiment. Given that our forex calendar is still blank for market-moving reports for the Kiwi today, it would be a good idea to get a good feel of the market’s mood before betting your pips on the Kiwi. We only had the second-tier REINZ HPI for October which printed a 0.3% contraction after posting a 1.7% uptick in September.
Good luck! Remember that the Kiwi usually rallies when risk appetite is up.
Just like other major currencies, the Kiwi was able to stage a magnificent rally versus the Greenback last Friday due to the market’s appetite for risk. NZD/USD ended the U.S. trading session at .7863, a respectable 101 pips higher from its opening price that day.
The positive market sentiment was brought about developments in the euro zone. With the resignation of both Greek and Italian Prime Ministers, Greek and Italian governments find themselves able to freely make the necessary changes to deal with the debt crisis.
No important economic data was released last Friday but earlier today, the retail sales report of New Zealand was released. It showed a 2.2% surge in sales, more than three times the market consensus. The core version of the report also came in much better than expected as it printed a 2.4% rise. The forecast was only for a 0.7% increase. The upside surprise triggered a 40-pip rally in NZD/USD.
No major news release for the rest of the week, so the Kiwi will probably get its price action cues from developments in other major economies, especially those from the U.S. and the euro zone.
If not for risk aversion, the Kiwi could’ve had it all, rolling in the pips. NZD/USD tumbled from its opening price of .7880 and closed the day at .7785.
As I have pointed out in my EUR commentary, growing uncertainty in the euro zone spooked traders out of higher-yielding assets in yesterday’s trading. Heck, not even better-than-expected data from New Zealand kept the Kiwi from falling.
New Zealand’s retail sales report for September came in much higher than expected at 2.2% after analysts predicted it to print at 0.6%. Excluding volatile items, the core retail sales report printed at 2.4% and topped the 0.7% forecast.
For today, make sure you get a good feel of market sentiment first before trading the Kiwi. Remember that the currency usually rallies when risk appetite is up. Peace out!
The Kiwi continued to post new month-to-date lows versus the Greenback yesterday as concerns on euro zone’s political problems and debt woes grow. NZD/USD, which began the day at .7784, found itself 76 pips lower by the end of the U.S. trading session.
No major news releases coming out of New Zealand today so don’t expect the Kiwi to experience a lot of movement. The U.S. consumer price index later afternoon may have an indirect effect on the Kiwi’s price action though, so watch out for that!
When risk aversion strikes the markets, you just know that the Kiwi is in for a fall! Like its other comdoll buddies, NZD/USD showed the risk aversion that hovered over the markets yesterday. The pair only tipped an intraday high of .7724 before it finished the day with a 62-pip loss at .7645.
Too bad New Zealand’s economic reports weren’t any help for the comdoll. Yesterday the country’s quarterly PPI output showed only a 0.2% rise in the third quarter, which is slower than the second quarter’s 1.4% growth. Meanwhile, the PPI input remained steady at a 0.6% growth.
No reports are scheduled for release in New Zealand today, so make sure you got yo eyes on risk sentiment. We never know what might affect risk sentiment today!
Ooooh… That’s gotta hurt! For the fourth day in a row, the New Zealand dollar got the short end of the stick in its battle against the Greenback. With risk aversion still in play, NZD/USD slid 67 pips to end the day at .7579.
Unfortunately, the early release of PPI data did nothing to boost the New Zealand dollar. PPI input merely matched expectations, showing a 0.6% increase in the prices of goods and raw materials purchased by manufacturers in Q3 2011.
If the New Zealand dollar plans to bounce back today, it will have to do so without the help of economic data as no reports are due from New Zealand today. As such, risk sentiment will probably remain the key driver behind NZD/USD price action.
Unfortunately for the Kiwi, the currency bears capped the week with a big high five. That’s right, NZD/USD was pushed lower for the fifth day in a row, and added 15 more pips to its weekly losses to a total of 316 pips at .7564. OUCH!
The economic boards were empty in New Zealand yesterday, but a burst in risk appetite gave the Kiwi some support… for a few hours, that is. After a while the Kiwi bears went back in action and erased the Kiwi’s intraday gains against the Greenback.
Let’s see if the reports from New Zealand this week can give the comdoll some support.
At around 2:00 am GMT today we’ll get hold of New Zealand’s credit card spending report for October, followed by the visitor arrivals report at 9:45 am GMT. Both reports are expected to come in pretty much the same as their previous figures, but watch these reports closely for any surprises!
Tomorrow at 2:00 am GMT the country’s inflation expectations for the third quarter will be published, and a figure higher than the second quarter’s 2.9% reading might provide the Kiwi some relief, since it might signal that the RBNZ isn’t in the mood to cut interest rates anytime soon.
Last to hit New Zealand’s wires this week is the country’s trade balance report on Wednesday at 9:45 pm GMT. The economy is expected to show a smaller deficit for the month of October, but a larger deficit might drag the Kiwi lower in the charts.
Watch your trades closely, kids!
The Kiwi got its wings clipped by risk aversion yesterday, forcing NZD/USD to close 63 pips down from its .7574 open price. Not even the upbeat economic data from New Zealand was able to save the Kiwi from getting trampled on during the safe-haven rallies. Will we see the same kind of price action today?
New Zealand reported that credit card spending jumped by 7.9% on a year-over-year basis in October, signaling that consumer spending was up during the month. The October figure was also much higher than the 5.3% annual increase seen last September. This gave a slight boost to NZD/USD, which was able to reach a high of .7579 during the Asian session.
However, the Kiwi’s gains were quickly erased once the London session kicked off. Credit rating agency Moody’s warning about a possible debt rating downgrade on France spooked the markets and pushed traders towards the safe-havens. Things got even worse during the U.S. session when the U.S. supercommittee failed to reach an agreement regarding their government’s spending cuts. With all these threats to the global economy, it’s no wonder traders lost their appetite for risky assets!
Today, New Zealand is set to print its inflation expectations for the third quarter of this year. This report would reveal business managers’ expectations about the changes in price levels for the next couple of years. For the previous period, the report showed a 2.9% figure and if the third quarter’s figure is much higher, we might see the Kiwi rally. After all, expectations of future inflation can be manifested in actual inflation so keep an eye out for the release at 2:00 am GMT.
No thanks to risk aversion in the markets and New Zealand’s weak economic reports, the Kiwi bears walked away with fat pockets for the SEVENTH day in a row. Okay, maybe NZD/USD only fell by 7 pips at .7477 this time, but a red candle is still a red candle!
Aside from risk aversion caused by debt concerns in the euro region, the Kiwi bears had help from New Zealand’s inflation expectations report. Business managers in the country expect the inflation to clock in at 2.8% for the third quarter, a bit lower than their 2.9% expectation in the second quarter. Apparently, the debt troubles in the euro zone are also taking its toll on these managers’ inflation expectations.
Will New Zealand’s trade balance report help the Kiwi bulls today? The report is scheduled for release at 9:45 pm GMT today, and this time the market geeks expect the trade deficit to inch lower to only 454 million NZD in October from the 751 million NZD deficit in September.
Be careful in trading this one, kids!
Make that eight! The Kiwi extended its losses against the dollar for yet another day as risk aversion stayed in the markets. NZD/USD chalked up its EIGHTH red candle on the daily chart as the pair closed 78 pips below its .7477 open price. Will the Kiwi be able to end this losing streak or will it go on for another day?
Another round of disappointing updates from the euro zone dragged the Kiwi down along with its fellow higher-yielders yesterday as traders went after the safe-haven currencies. Word through the grapevine is that the German bond auctions didn’t go so well, prompting most market participants to worry about euro zone’s largest economy. Besides, if the debt contagion is starting to spread to Germany, it could mean that other economies are in grave danger as well!
As for economic data, New Zealand’s trade balance came in better than expected as it showed a deficit of 282 million NZD for October, less than the estimated 452 million NZD. This was also narrower than the September deficit, which was revised from 751 million NZD to 781 million NZD.
No other reports are due from New Zealand for the rest of the week so be mindful of market sentiment at all times! And before I forget, let me remind you that since most traders are out on Thanksgiving holidays, we could be in for less liquidity in the markets for the next couple of days. In other words, brace yourselves for higher volatility and stronger moves!
NZD/USD, which had lost 8 (yes, that’s correct) consecutive days, snapped its losing streak yesterday as it posted a small gain. It ended the U.S. trading session at .7416, 17 pips higher from its opening price that day. It appears that traders are starting to take profit on NZD/USD as the weekend fast approaches.
Similar to yesterday, New Zealand’s forex calendar has nothing important in store for us. Because of this, I don’t expect the Kiwi to show a lot of volatility. U.S. traders will also probably out as they celebrate their Thanksgiving holidays.
Thanks to good ol’ risk aversion, NZD/USD slipped to a low of .7371, its lowest level in eight months. The pair was able to make a huge gap over the weekend though, as it opened at .7508. Let’s find out whether the Kiwi will be able to stay afloat this week!
New Zealand didn’t release any economic reports last Friday, leaving NZD/USD at the mercy of risk sentiment. As always, euro zone debt problems hogged the spotlight and the set of downgrades doled out by credit rating agencies last Friday was a huge blow to risk appetite.
Today, the freshly released NBNZ business confidence index gave the Kiwi a slight boost as the reading climbed from 13.2 to 18.3 in November. This suggests that businessmen are a tad more optimistic about economic conditions during the month.
On Tuesday, New Zealand will release its building consents report for October. Recall that the number of new building approvals issued dropped by 17.1% in September, but if the report prints a rebound for the following month, it could provide some support for the Kiwi.
No other top-tier reports are expected from New Zealand for the rest of the week so make sure you keep close tabs on risk sentiment to gauge where the Kiwi could be headed. Good luck!
It’s aliiiiive! Like a zombie, the Kiwi rose from the grave yesterday as risk appetite and positive business confidence data helped revive the comdoll. After gapping up over the weekend, NZD/USD rallied to close at .7550, ending the day 159 pips above last Friday’s closing price.
Yesterday’s NZNB business confidence report revealed that companies are starting to look on the bright side of things. The index’s reading rose from 13.2 to 18.3 in November, as businesses are predicting slightly better days in the year ahead. They’re quite hopeful about investment, profits, and capacity utilization, but are feeling a bit more worried about employment and export conditions.
Looking ahead, we’ll have to deal with New Zealand building consents data. Will the construction industry rebound from September’s 17.1% slide? You’ll have to tune in at 9:45 pm GMT to find out, homie! Look for the Kiwi to continue its rally if this report prints an upside surprise!
It’s on, baby! The Kiwi recorded its second win in a row against the Greenback as NZD/USD rallied 71 pips to close at .7620. And with how it started today, it looks like it’s on its way to extend its winning streak!
Thanks to yesterday’s risk taking, the Kiwi had no problem finding buyers. Of course, the fact that Prime Minister John Key was re-elected also had a hand in the Kiwi’s rally yesterday. The markets took his re-election positively because the elections were carried out smoothly and also because John Key’s administration is aiming to return the budget to surplus as soon as 2014!
The release of building consents data just a few hours ago seems to have riled up Kiwi bulls even more. The construction industry has been able to maintain its trend of moderate increases since March 2011. As a matter of fact, just this October, building consents rose 11.2%, which is a sight for sore eyes considering that the previous month recorded a 17.2% drop.
Looking ahead, it seems like we won’t have any substantial reports coming out of New Zealand today. In the meantime, keep monitoring risk sentiment. If the markets maintain their appetite for risk, the Kiwi could very well chalk up its third win against the Greenback this week!
Now THAT is how you end the month with a bang! With risk taking back in vogue, the Kiwi was able to post its biggest rally for the month of November. From its opening price of .7620, NZD/USD climbed 189 pips to finish the day above the .7800 handle. Let’s see if it can follow up yesterday’s awesome performance with another win!
That’s pretty much the entire story for the Kiwi as New Zealand didn’t publish any reports yesterday! And since today’s economic calendar will be blank as well, you have to wonder if the Kiwi can hold onto its recent gains. NZD/USD is already up about 400 pips from last Friday’s close, so the argument for a pullback can be made
In the meantime, I suggest you all keep monitoring risk sentiment as it will probably continue driving Kiwi price action today. Good luck, kids!
Looks like after Wednesday’s impressive move, the Kiwi bulls took a breather yesterday! The pair consolidated into a range of just over 50 pips, and finished the day at .7779, marking a 30-pip loss for the day.
No data scheduled to be released today, so there’s a chance that we’ll see a lot of consolidation, at least until the New York session. Take note that the U.S. nonfarm payrolls report will be released tonight and this could prove to be a major market mover.
With no data being released, the Kiwi traded just like its namesake and remained flightless. NZD/USD is currently trading within a tight range of just 40 pips – what could break it out of its consolidation?
Looking at our economic calendar, we’ve got no hard hitting reports coming out from New Zealand until tomorrow, when the Reserve Bank of New Zealand is set to make its interest rate decision. Until then, we can probably expect more consolidation in the Kiwi. Of course, there’s no telling what could drive the markets, so make sure you check out my other commentaries so that you know what other reports are coming out today!
Without any economic data on tap, the Kiwi just ranged like a Power Ranger in yesterday’s trading. NZD/USD traded higher after dipping to an intraday low of .7739, peaking at .7819. It then ended the day 8 pips below its opening price at .7797.
We’ll probably see the same range-bound action on NZD/USD for the most part of today’s trading. That is, until 8:00 pm GMT when the RBNZ takes center stage for its interest rate decision.
Market junkies are expecting the bank to keep rates steady at 2.50%. However, some naysayers think that there’s a big probability that we’ll hear dovish remarks from RBNZ Governor Alan Bollard given the dismal economic reports we’ve recently seen from New Zealand. So be sure you stay tuned to the decision later as the central bank head honcho’s words may just trigger a breakout on NZD/USD!
Is it just me, or is NZD/USD stuck in a tight 100-pip range? Similar to the days that have passed, NZD/USD continued to move in a sideways trend as it found resistance around the .7820 area and support just above .7750.
It appears that the lack of economic catalysts is keeping the pair directionless. Earlier today, the Reserve Bank of New Zealand (RBNZ) interest rate decision came in just as expected. The RBNZ kept rates unchanged at 2.50% and didn’t come up with any surprises.
Nothing important on New Zealand’s economic calendar today, so we could see NZD/USD maintain its range. Watch the previous day highs and lows closely folks, as they could serve as strong resistance and supportlevels!
Talk about a fake out! After spiking above key resistance at .7830, the Kiwi traded to the beat of risk aversion as it boogied down the charts late in the New York session. The pair ended the day at .7725, down 67 pips on the day.
Now that NZD/USD has broken out of its consolidation, will we see an extended move down south today? It seems that the markets are erring on the side of risk aversion as we near the end of the year, but with so much pressure on European leaders to get something done during this week’s EU summit, they might have no choice but to work out a basic deal that features more fiscal unity.
Watch out for more developments on this issue, as this will most likely prove to be the major market mover over the next couple of weeks. Good luck trading my forex friends!