Way to go, little one! The Kiwi didn’t even look back from its race against the Greenback last Friday, as NZD/USD zoomed past the .8000 barrier. The pair started off at .7892 then reached a high of .8023 before closing at .8003.
Although there were no reports released from New Zealand last Friday, upbeat sentiment for the Kiwi and the weak jobs data from the U.S. were enough to boost NZD/USD back above .8000. This week might be a different story, as the RBNZ gears up to make its interest rate decision on Wednesday. The central bank is expected to keep monetary policy unchanged but traders will pay close attention to the accompanying statement, which should show if the RBNZ has an easing bias or not.
No other major events are lined up for the Kiwi for the rest of the week, but do stay tuned for medium-tier releases that could provide more clues on how the New Zealand economy is doing. These are the Business NZ manufacturing index and food price index due on Thursday. Over the weekend, New Zealand printed a 2.0% decline in quarterly manufacturing sales, which could put a slight drag on overall growth.
Aside from watching out for New Zealand data, do keep your eyes and ears peeled for data from China, as these figures could be indicative of export demand for commodity-exporting economies. For today, Chinese CPI is up for release while Tuesday has industrial production and retail sales figures scheduled. Good luck!
Like its comdoll brothas, the Kiwi had didn’t let a lack of data stand in its way to more gains. NZD/USD closed 12 pips higher than its open price after dropping to an intraday low of .7961. Booyah!
New Zealand didn’t release any economic report yesterday, but overall dollar weakness and improved economic prospects in China spurred demand for the commodity-related currencies.
Will the comdolls continue to post gains against the Greenback today? We won’t be seeing any reports from New Zealand again today, so you might want to keep close tabs on any reports due in China as well as any report that might affect risk appetite.
The kiwi may be a flightless bird but the Kiwi dollar was anything but flightless in yesterday’s trading! NZD/USD extended its climb and reached a high of .8076, as risk appetite improved recently. What happened exactly?
Although there were no reports released from New Zealand yesterday, the Kiwi was able to end the day on a positive note, thanks to a few factors that spurred risk appetite. First was the stronger than expected Chinese data releases, which showed that the world’s second largest economy is starting to recovery. Next was the easing tension in Syria, as the U.S. Senate postponed its vote on a military strike and Obama showed openness for a more diplomatic solution.
For today, Kiwi traders are starting to gear up for the RBNZ interest rate decision. No monetary policy changes are expected, but analysts are starting to price in hawkish remarks from Governor Wheeler. After all, New Zealand has seen a bunch of economic improvements lately, along with its trade partners Australia and China. Keep an eye out for the actual event at 10:00 pm GMT if you’re trading the Kiwi!
Like its comdoll comrades, the Kiwi bulls snared a victory yesterday despite a lack of data from New Zealand. But what’s this report causing a ruckus on the Kiwi today?!
It’s none other than the RBNZ interest rate decision, yo! A few hours ago the central bank brought out the big guns when it hinted at a possible rate cut this year. Apparently, the RBNZ thinks that the inflation levels and economic growth at the time would be enough to warrant higher interest rates.
As expected, the Kiwi rose across the board. It looks like we’re seeing heavy retracements now though. Let’s see if the comdoll bulls can hold their fort today!
The only other news scheduled is the business manufacturing index at 10:30 pm GMT, so there’s still plenty of time for traders to react to the RBNZ’s statements!
Way to go, little one! The Kiwi started the Asian session on a positive note, as hawkish remarks from the RBNZ lifted the commodity currency throughout the day. NZD/USD extended its stay above the .8100 mark while AUD/NZD sank to new lows around 1.1300.
As Forex Gump discussed in his article about the RBNZ interest rate decision, the central bank kept rates on hold but hinted that they could start hiking as early as next year. However, Wheeler also spoke about the Kiwi’s exchange rate and emphasized that their economy could benefit from currency depreciation.
Later on, New Zealand reported a decline in manufacturing activity, as the Business NZ manufacturing index slipped from 59.5 to 57.5 in August. It looks like the Kiwi was unfazed by this small setback though!
There are no reports due from New Zealand for the rest of the day, as the Kiwi could keep drawing support from the upbeat RBNZ statement. Stay on your toes for any potential changes in sentiment though!
Party’s over, boys! NZD/USD ended its winning streak last Friday when it closed 5 pips lower than its open price. And New Zealand didn’t even print any report! What’s up with that?!
The Kiwi bulls lost its grip on NZD/USD when a weaker-than-expected U.S. retail sales data inspired risk aversion in the markets. Heck, even the Loonie and the Aussie weren’t spared from the bears’ attack!
New Zealand’s weak Westpac consumer sentiment released a few hours ago probably wouldn’t help the bulls gain their momentum. If you want to see if New Zealand will pop up more bad news though, you’ll have to wait for the current account report due tomorrow at 10:45 pm GMT and the big quarterly GDP data on Wednesday also at 10:45 pm GMT. Both these reports could affect the Kiwi’s intraday moves big time, so you better be around to see it!
Fly, Kiwi, fly! NZD/USD was off to a good start on Monday’s Asian session, as it zoomed past the .8200 resistance and hovered above that level for most of the day. However, the pair pulled back from its rallies during the New York session and ended at .8171.
There were no reports released from New Zealand yesterday, as the Kiwi simply relied on the positive sentiment from last week’s hawkish RBNZ announcement to sustain its upward momentum. The only report on New Zealand’s schedule for today is the current account balance, which isn’t due until 11:45 pm GMT. With that, NZD/USD might be extra sensitive to U.S. data or changes in market sentiment so y’all better watch out for those!
The Kiwi had another awesome day at the charts yesterday after risk appetite and a better-than-expected New Zealand report boosted NZD/USD. Will the comdoll go for more gains today?
Yesterday New Zealand’s current account report showed a deficit of 1.25 billion NZD in Q2 2013, which is still better than the expected 1.85 billion NZD deficit figure. It also helped the Kiwi that high-yielding currencies like the comdolls continued to gain against the Greenback.
Let’s see if the Kiwi can retain is gains today! At 10:45 pm GMT Australia’s closest trading partner will release its quarterly GDP report. A 0.2% growth is expected for Q2 2013, which is only a jump away from Q1 2013’s 0.3% increase. The GDP report tends to inspire a more volatile trading environment for the Kiwi, so make sure you keep a close eye on your Kiwi trades!
Is there no end to the Kiwi’s rallies? NZD/USD closed out another day in the green, as the pair shot up from the .8250 area and came close to reaching the .8400 mark. Let’s take a look at the recent and upcoming reports to see if NZD/USD can keep climbing.
Although there were no economic reports released from New Zealand yesterday, NZD/USD saw a lot of action during the U.S. session as the dovish FOMC statement sparked a wave of dollar-selling. Check out my U.S. economic commentary to find out how it all turned out!
Earlier today, New Zealand’s Q2 2013 GDP release came in line with consensus, as the actual figure showed 0.2% growth for the period. What helped the Kiwi add to its gains was the upward revision in the Q1 report, which is now showing a 0.4% expansion for the quarter.
There are no reports due from New Zealand for the rest of the day, leaving NZD/USD to trade to the tune of market sentiment. Should there be no changes to the upbeat bias for the Kiwi and the downbeat sentiment for the dollar, NZD/USD might be able to break past the .8400 handle later on!
Phew! The Kiwi bulls barely pushed NZD/USD in the green yesterday as a bit of profit-taking took over the markets yesterday. NZD/USD finished the day 13 pips higher than its open price after dropping to a low of .8327.
The Kiwi had a good start at the beginning of the day when New Zealand’s GDP came in at 0.2% as expected. It also helped that the RBNZ’s hints of possible interest rate hikes is still fresh on the investors’ minds. Unfortunately, the dollar also had a pretty good day yesterday. This prompted some of the traders to take profits on their NZD/USD longs.
Only the credit card spending report at 3:00 am GMT is scheduled from New Zealand today. This doesn’t usually have a significant impact on the Kiwi’s price action, so you might want to look at other major economies for clues!
What’s the matter, Kiwi dollar? Was the .8400 level too hot to handle? NZD/USD kept retreating on Friday, as the pair fell below the .8400 mark and ended the week at .8372. The pair gapped lower over the weekend and opened at .8352.
New Zealand reported a 6.6% increase in credit card spending for August, higher than the previous month’s 4.8% rise. This is a good sign for consumer spending, as rising debt levels are usually considered a positive indicator of consumer confidence.
Despite the upbeat report from New Zealand, NZD/USD was unable to hold on to its recent gains last Friday when FOMC member Bullard spoke of the possibility of an “Octaper” in his testimony. This was enough to boost the dollar against its counterparts during the U.S. session.
The coast is clear in terms of economic reports from New Zealand today, leaving the Kiwi vulnerable to risk sentiment and U.S. economic events once more. In fact, the only report due from New Zealand this week is its trade balance, which is due 11:45 pm GMT tomorrow. Watch out for that release if you’re trading NZD/USD!
The Kiwi bulls brought out their game faces yesterday as they extended NZD/USD’s rally by another 27 pips. Did economic data have anything to do with it?
You bet your pips it did! It wasn’t New Zealand data though. As I mentioned in my other updates, China printed a better-than-expected manufacturing PMI report, which boosted the demand for commodity-related currencies across the board.
Let’s see if New Zealand’s trade data will extend the Kiwi’s gains. At 10:45 pm GMT analysts are expecting to see the country’s trade deficit narrow down from 774 million NZD to 722 million NZD in August. Keep an eye out for any surprises, will ya?
The Kiwi got its wings clipped yesterday, with NZD/USD falling all the way down to the .8250 minor psychological support. Is it making a huge correction or is this the start of a reversal?
The lack of data from New Zealand left the Kiwi with absolutely nothing to hang on to in the midst of the dollar rallies. Earlier today, the selloff worsened as New Zealand’s trade balance came in weaker than expected at a deficit 1191 million NZD instead of the estimated -722 million NZD shortfall, reflecting a sharp drop in exports.
It didn’t help that Fonterra, one of the largest dairy companies in New Zealand, admitted that it had significantly lower earnings for the second half of the year. Remember that the company had to recall a bunch of its dairy products due to a poisoning scare a few months back, and that’s not lookin’ too good for the world’s largest dairy exporter!
New Zealand’s economic schedule is empty again for today, which suggests that the Kiwi could move to the tune of risk sentiment. If this downbeat sentiment for New Zealand’s economy persists, NZD/USD might be in for more losses. Stay on your toes!
Ooomph! NZD/USD took another hit yesterday after a report from New Zealand surprised to the downside. It fell by another 22 pips after reaching a low at .8217.
As I mentioned yesterday, New Zealand’s weak trade numbers aren’t helping the Kiwi. It also didn’t help that sentiment for the comdolls was weak across the board yesterday thanks to concerns about the U.S. debt ceiling deadline.
Will the Kiwi have any luck today? We won’t be seeing economic reports, so the currency will most likely trade on risk sentiment. Keep your eyes peeled for any major news that might affect the appetite for high-yielding currencies!
The Kiwi gets an “A” for effort! NZD/USD staged a pretty decent rebound from its selloff this week, as the pair reached up for the .8300 handle then closed at .8280. Will it have a chance to end the week above .8300?
There were no economic reports released from New Zealand yesterday, leaving NZD/USD sensitive to U.S. data. Fortunately for the pair, both U.S. reports printed weaker than expected results. The U.S. GDP reading failed to show any upward revisions, much to the disappointment of dollar bulls expecting to see an upgrade from 2.5% to 2.7%, while pending home sales showed a 1.6% decline.
New Zealand’s economic agenda is still empty again today so NZD/USD could take its cue from U.S. economic events once more. Take note that a few FOMC voting members are set to give speeches and possibly drop some hints on the Fed’s taper plans so dollar pairs might be in for a crazy Friday!
The Kiwi bulls and bears ended their fierce tug-o-pips with a tie last Friday when risk aversion got mixed in with a relatively better-than-expected data from New Zealand. NZD/USD popped to a high 40 pips above its open price before it closed without any significant gain or loss.
For now it looks like Kiwi traders are still deciding whether the U.S. debt ceiling and/or government shutdown is USD bearish or risk-aversion-friendly. It also helped the bulls that New Zealand’s ANZ business confidence data came just above its previous reading.
New Zealand isn’t set to release any economic report today, so NZD/USD will most likely trade on risk appetite and sentiment for the Greenback. Make sure you’re glued to the news wires for any news, aight?
Ah ha ha ha, stayin’ alive, stayin’ alive… The Kiwi moved to the Bee Gees’ groove yesterday, as NZD/USD managed to stay afloat. The pair dipped slightly below the .8300 handle for a while then bounced right back up to a high of .8335. Can it keep heading higher today?
There were no economic reports released from New Zealand yesterday but the Kiwi was lucky enough to be able to take advantage of dollar weakness. There are no reports due from New Zealand again today so NZD/USD might be extra sensitive to U.S. data, namely the ISM manufacturing PMI.
Top-tier events in its next-door neighbor Australia could also affect Kiwi price action, so y’all better take note of how the RBA statement turns out!
Lastly, don’t forget to keep tabs on the U.S. debt ceiling drama, as this issue tends to have an impact on risk sentiment. Good luck!
The Kiwi jumped on the bears’ bandwagon yesterday as NZD/USD gave up 27 pips. What the heck weighed on the Kiwi this time?
Can’t say for sure why the comdoll bears pounced yesterday, but I gotta tell ya that the weak official Chinese manufacturing PMI didn’t help the comdolls. And then there’s the overall USD strength that we saw right after the U.S. underwent a partial government shutdown. Crazy!
New Zealand didn’t release any economic report yesterday and aside from the slightly better-than-expected ANZ commodity prices data a few hours ago, it’s not scheduled to release anything again today. This means that you should pay attention to other potential market movers that might affect the demand for the comdolls.
Somebody’s being fickle! NZD/USD was already headed south during the Asian session but it suddenly changed its mind and made a quick U-turn upon reaching the .8200 level. From there, NZD/USD traveled north and tested its previous day highs around .8300. What was that all about?
There were no reports released from New Zealand yesterday, as NZD/USD reacted mostly to Australian data, which all came in the red. However, the second day of the U.S. government shutdown and bleak data from the U.S. led traders to abandon the Greenback during the New York session.
New Zealand’s economic schedule is still empty for today, which suggests that NZD/USD’s price action could be driven by U.S. sentiment. With that, stay on your toes for the release of the ISM non-manufacturing PMI and initial jobless claims, as weak results could give NZD/USD another boost.
Wheeler, Wheeler, chicken dinner! RBNZ Governor Graeme Wheeler won points with the Kiwi bulls yesterday as his news pushed NZD/USD to an intraday high 41 pips higher than its open price.
As Forex Gump mentioned in his latest post, the RBNZ Governor Graeme Wheeler outright said that the central bank is thinking of raising rates aggressively over the next few years in order to slow down house price inflation. He even hinted at a 2% raise between 2014 and 2016!
Unfortunately for the bulls, risk aversion took over the markets in the later trading sessions and closed NZD/USD 8 pips lower than its open price.