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Positive risk sentiment put the Kiwi on top of the forex heap last week.

Can Kiwi bulls extend their rallies this week?

Here are potential catalysts you need to be aware of!

Quarterly manufacturing sales (June 9, 10:45 pm GMT)

Business confidence reports

  • ANZ business confidence (June 9, 1:00 am GMT) last improved from -45.6 to -41.8 in April
  • Business NZ manufacturing index (June 11, 10:30 pm GMT) rose from 38.0 to 26.1 in April

Market risk sentiment

  • Not a lot of top-tier reports on tap this week, which could turn markets’ focus on risk sentiment
  • Risk appetite could continue to push comdolls higher as more economies reopen
  • U.S.-China trade tensions can weigh on NZD if rhetoric flames up again this week

Technical snapshot

  • RSI is flagging NZD’s “overbought” conditions against the safe havens as well as CAD and GBP on the daily time frame
NZD Forex Pairs RSI from MarketMilk
NZD Forex Pairs RSI from MarketMilk
  • NZD is on uptrends against almost all of its counterparts except in AUD/NZD, which could soon see retracements or a reversal
NZD Forex Pairs SMAs from MarketMilk
NZD Forex Pairs SMAs from MarketMilk
NZD Forex Pairs Volatility from MarketMilk
NZD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read NZD’s price recap for June 1 – 5!