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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
NZD Forex Pairs Stochastic from MarketMilk
NZD Forex Pairs Stochastic from MarketMilk
  • 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 Forex Pairs EMAs from MarketMilk
NZD Forex Pairs EMAs from MarketMilk
  • NZD has seen the most volatility against the safe havens and the euro in the last seven days
NZD Forex Pairs Volatility from MarketMilk
NZD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read NZD’s price recap for May 25 – 29!