Will the Kiwi see one-directional moves against its counterparts this week? Here’s a list of catalysts to watch out for!
Governor Orr’s speech (Mar 10, 1:00 am GMT)
- Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr will talk unconventional monetary policy tools in Wellington
- Keep an eye out for clues that the central bank will follow the RBA, BOC, and Fed in cutting rates this month
Business NZ manufacturing index (Mar 12, 9:30 pm GMT)
- January’s PMI inched higher from 49.2 to 49.6 even as production contracted for a third straight month and employment dropped to its lowest since July 2019
- Analysts see the PMI going back above the 50.0 expansionary mark in February
- Traders pay attention to the report because RBNZ considers business surveys in its policy decisions
Market risk sentiment
- Coronavirus concerns will continue to affect risk-taking in the markets
- Watch out for other central banks (*cough* ECB *cough*) that may hint at/implement interest rate cuts in the foreseeable future
- RSI considers NZD as “oversold” against EUR, CHF, and JPY on the daily time frame
- NZD has been most volatile against EUR, CHF, JPY, GBP in the last 30 days
Missed last week’s price action? Read NZD’s price recap for March 2 – 6!