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Positive risk sentiment boosted the Kiwi against its peers last week. Here’s what you need to know about this week’s catalysts!

Quarterly labor market numbers (Nov 5, 9:45 pm GMT)

  • Unemployment rate fell from 4.2% to 11-year low of 3.9% in Q2 2019
  • NZD traded higher after the jobless rate surprise
  • Unemployment rate to rise to 4.1% in Q3 2019?
  • Employment expected to dip from 0.8% to 0.2% in Q3 2019
  • Labor cost index expected to slow down from 0.8% to 0.6%

Countercurrency event risks

  • Central bank events (RBA and BOE decisions, ECB Gov Lagarde’s speech)
  • Top-tier events in Australia (retail sales, trade balance) and China (trade balance, CPI)

Market risk appetite factors

  • Will the U.S. dollar extend its losses across the board?
  • U.S. – China trade deal updates. Looks like officials are already talking signing details.
  • Overall performance of Euro Zone PMIs

Technical Snapshot

  • NZD/CAD, NZD/USD, NZD/JPY, and NZD/CHF are on short-term uptrends but are below their 200 SMAs.
  • AUD/NZD, GBP/NZD, and EUR/NZD are on short-term downtrends but are above their 200 SMAs.
  • NZD Daily Chart MAs from MarketMilk™
    NZD Daily Chart MAs from MarketMilk™
  • NZD/CAD, NZD/JPY, and NZD/USD saw the most volatility in the last 7 days.
  • NZD Daily Volatility from MarketMilk™
    NZD Daily Volatility from MarketMilk™
  • Watch out for potential pullbacks against the lower-yielding bets as well as CAD and GBP.

Missed last week’s price action? Read NZD’s price recap for Oct. 28 – Nov. 1!