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)
- Meat and dairy sales boosted manufacturing sales from 1.2% to 2.4% in Q4 2019
- NZD popped higher before risk aversion dragged it lower
- Watch out for COVID-related impact in this week’s numbers
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
- RSI is flagging NZD’s “overbought” conditions against the safe havens as well as CAD and GBP on the daily time frame
- NZD is on uptrends against almost all of its counterparts except in AUD/NZD, which could soon see retracements or a reversal
Missed last week’s price action? Read NZD’s price recap for June 1 – 5!