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Global risk aversion did the Kiwi dirty last week. Luckily, we have a couple of hot catalysts to watch. Think they will push the comdoll higher?

Here’s a list Kiwi bulls and bears need to know about:

Quarterly GDP (June 17, 10:45 pm GMT)

  • As expected, the economy slowed down from 0.8% to 0.5% while annualized growth slipped from 2.3% to 1.8% in Q4 2019
  • NZD initially fell at the news but found an intraweek low thanks to optimism over major central banks’ stimulus programs
  • Analysts see the economy falling by 1.0% in Q1 2020

Top-tier reports from Australia and China

  • As China and Australia are New Zealand’s closes trading neighbors, closely watched reports from the regions can affect the demand for the New Zealand dollar
  • China has a data dump (fixed asset investment, industrial production, retail sales, unemployment rate) on June 15, 2:00 am GMT
  • Australia’s labor market data is due on June 18, 1:30 am GMT
  • Australia’s retail sales is on June 19, 1:30 am GMT

Market risk sentiment

  • Traders will continue to monitor the COVID-19 cases in the U.S. and around the world to see if a “second wave” will require the return of strict lockdown measures
  • The prospect of a “No-Deal Brexit” in the U.K. can limit risk-taking for London session traders
  • The European Council meeting is expected to discuss the recovery fund plan to help the region’s hardest-hit economies
  • Policy announcements by the BOJ, SNB, and BOE, as well as testimonies by Fed’s Powell can affect markets’ appetite for high-yielding bets like the Kiwi

Technical snapshot

  • Stochastic considers NZD as “overbought against AUD, CAD, and GBP on the daily time frame
NZD Forex Pairs Stochastic from MarketMilk
NZD Forex Pairs Stochastic from MarketMilk
  • EMAs reflect Kiwi’s short and long-term bullish trends against the Loonie and pound
  • NZD could see short-term retracements against the safe havens
  • Watch out for retracement or reversal opportunities against the Aussie
NZD Forex Pairs EMAs from MarketMilk
NZD Forex Pairs EMAs from MarketMilk
  • NZD has been most volatile 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 June 8 – 12!