Partner Center Find a Broker

Not a lot going on in New Zealand this week, which means that Kiwi trading will likely take cues from risk sentiment.

Can this week’s potential catalysts inspire one-directional moves for the comdoll?

Check out this list:

Business surveys

  • The Reserve Bank of New Zealand (RBNZ) often looks to business surveys for cues on policy direction
  • Quarterly inflation expectations (Feb 9, 2:00 am GMT) could speed up from 1.6% to 1.9% in Q1 2021
  • BusinessNZ manufacturing PMI (Feb 11, 9:30 pm GMT) is seen at 50.2 after a 48.7 reading in December

Market risk sentiment

  • With only a few top-tier reports scheduled even from other major economies, COVID-19 cases, vaccine distribution, and stimulus prospects could continue to drive the appetite for high-yielding bets like NZD
  • U.S. Treasury yields and the demand for USD can also influence the trends of NZD/USD and the rest of major NZD pairs
  • Better-than-expected jobs data from last week and expectations of a less dovish RBNZ statement later this month make NZD a more attractive bet than its fellow comdolls

Technical snapshot

  • Stochastic considers the Kiwi “overbought” against the yen, franc, euro, and the Loonie
  • Kiwi is also approaching overbought levels against Aussie
  • GBP/NZD remains in neutral territory
NZD Forex Pairs Stochastic from MarketMilk
NZD Forex Pairs Stochastic from MarketMilk
  • Daily EMAs reflect the Kiwi’s short and long-term bullish trends against most of its major counterparts
  • NZD could be seeing short-term bearish pressure against AUD
  • NZD is seeing short-term bearish trends against GBP even as it remains above the 200 EMA
NZD Forex Pairs EMAs from MarketMilk
NZD Forex Pairs EMAs from MarketMilk
  • NZD was most volatile against the safe-havens and the pound in the last seven days
NZD Forex Pairs Volatility from MarketMilk
NZD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read NZD’s price recap for Feb. 1 – 5!