Can last week’s king of pips continue its reign this week? Here are events that might influence the Kiwi’s price action!
PPI input and output (q/q) (Feb 19, 9:45 pm GMT)
Rising petrol and diesel prices have risen for a fourth quarter in a row, which pushed producer input prices in Q3 2018. The increases flowed through to customers, as output prices rose in the time period.
This week, we’ll see if the uptrend continued in Q4. If you recall, input prices rose by 1.4% while output prices inched 1.5% higher.
The New Zealand dollar could get a boost if we see much faster rates than what analysts expect. After all, the Reserve Bank of New Zealand (RBNZ) recently shared that its next move is still skewed towards a rate hike than a cut.
Overall risk sentiment
With no top-tier data on the docket, Kiwi’s price action will likely take cues on the market’s risk appetite again.
We know that optimistic speculations over the U.S.-China trade negotiations is bullish for the comdoll. Both sides have reported progress after days of discussions in Beijing and word around is that they will continue their talks in Washington this week.
Can this week’s trade headlines extend the Kiwi’s gains? Or will a lack of concrete development inspire a bit of profit-taking?
Missed last week’s price action? Read NZD’s price recap for February 11-15!