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New Zealand won’t be as lively as other commodity-producing countries this week, but that doesn’t mean we won’t see high volatility.
Which catalysts can cause intraday swings among NZD’s pairs?
Here’s a list!
Lower tier reports
- While these reports can’t dictate NZD’s intraweek direction, they can cause intraday pops and dips you can take advantage of
- Building permits (June 1, 10:45 pm GMT) last printed a 21.3% drop in March
- ANZ’s commodity prices (June 4, 1:00 am GMT) have been falling since December and last saw a 1.1% dip in March
Market risk sentiment
- Headlines over the U.S.-China conflict will continue to affect the demand for comdolls
- Updates on coronavirus cases, stimulus plans, and economies reopening around the world will continue to matter to NZD’s traders
- Policy decisions from the RBA, BOC, and ECB can influence overall risk-taking in the markets
- NZD can mirror AUD’s reactions to closely-watched economic releases from Australia and China
Technical snapshot
- Stochastic is flagging NZD’s “overbought” conditions against GBP, CAD, USD, and JPY on the daily time frame
- NZD/CHF is also almost in the overbought region
- Daily EMAs reflect Kiwi’s bearish trends against the Aussie, euro, and the pound
- Short and long term EMAs point to NZD/CAD’s bullish trend
- NZD may see bullish momentum but it’s still below the 200 EMAs against the safe havens
- NZD has seen the most volatility against the safe havens and the euro in the last seven days
Missed last week’s price action? Read NZD’s price recap for May 25 – 29!