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A shortened trading week means traders have to pack in all the action in the next few days! Check out catalysts that might move the Kiwi.

Quarterly NZIER business confidence (Apr 6, 10:00 pm GMT)

  • Confidence among businesses improved from -40 to -21 in Q4 2019 even as trading activity remained weak
  • The report, along with a strong Chinese trade data, boosted NZD to its intraday highs
  • Take note that this week’s report will be printed near Australia’s services index and Japan’s cash earnings releases

Top-tier reports from China and Australia

  • NZD has shown directly correlated reaction to Australia and China’s major reports
  • Australia will print its February trade numbers and RBA’s policy announcement on Tuesday at 1:30 and 4:30 am GMT respectively
  • China is set to release its CPI numbers at the end of the week

Market risk sentiment

  • COVID-related headlines will continue to affect the price action of high-yielding currencies like the Kiwi
  • Monetary and fiscal stimulus from major economies also tend to affect the comdolls’ prices
  • OPEC and friends will meet later this week, which could affect overall risk taking
  • Watch out for USD’s strength, which could persist if risk aversion continues to grip the markets

Technical snapshot

  • Stochastic flags NZD’s “overbought” conditions against EUR and CHF
  • NZD is “oversold” against GBP on the daily time frame

  • NZD is still on “bearish” trends against its major counterparts, except against AUD which is still below its 50 and 200 EMAs on the daily time frame

Missed last week’s price action? Read NZD’s price recap for March 30 – April 3!