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An RBNZ decision boosted NZD higher before trade concerns weighed on the comdoll. Which catalysts would move the comdoll this week?

New Zealand won’t be printing tons of top-tier data, but these releases could move the comdoll by a pip or two over the next few days:

Quarterly PPI reports (Nov 18, 9:45 pm GMT)

  • PPI input gained 0.3% in Q2 2019 vs -0.6% expected, -0.9% in Q1
  • PPI output up by 0.5% in Q2 vs. -0.4% expected, -0.5% in Q1
  • NZD spiked up at the release but was soon dragged by news that Trump wasn’t ready to make a deal with China just yet
  • PPI input is expected at 0.5% for Q3 2019
  • PPI output could print a 0.3% growth in Q3

Overall market sentiment

Technical Snapshot

  • NZD/GBP is bearish with SMAs across ALL time frames.
  • NZD/JPY is bullish in the short-term but bearish with longer-term SMAs. Watch for retracement or reversal opportunities!
NZD SMAs from MarketMilk™
NZD SMAs from MarketMilk™
  • NZD saw the most gains against AUD, USD, CAD, and EUR last week.
NZD 7-Day Performance from MarketMilk™
NZD 7-Day Performance from MarketMilk™
  • NZD is currently weak against USD, CAD, and EUR and only a little bit higher against AUD. Given its strong gains last week, we could see short-term retracement opportunities.
NZD 1-Day Performance from MarketMilk™
NZD 1-Day Performance from MarketMilk™