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New Zealand won’t be printing top-tier reports this week, which means Kiwi price action may depend on market risk appetite.

Planning on trading Kiwi in the next few days?

Here are potential currency movers that you should consider:

ANZ business confidence (June 30, 1:00 am GMT)

  • The Reserve Bank of New Zealand (RBNZ) pays close attention to business confidence reports so you should too
  • ANZ printed at -33.0 in May, up from -41.8 in April
  • NZD initially spiked higher but weak data during the London session dragged high-yielding currencies lower across the board

Market risk appetite

  • The number of coronavirus cases in the U.S. and around the world will continue to affect overall risk taking
  • The prospects of more stimulus can also influence risk appetite for high-yielding currencies
  • New Zealand’s exports depend a lot on demand from China, so China’s official PMIs (June 30, 1:00 am GMT) can also influence NZD price action
  • The U.S. NFP numbers can affect the demand for the U.S. dollar and its major counterparts

Technical snapshot

  • Williams %R suggests that NZD is “oversold” against the dollar on the daily time frame
  • It also points out Kiwi’s “overbought” conditions against the pound
NZD Forex Pairs Williams %R from MarketMilk
NZD Forex Pairs Williams %R from MarketMilk
  • Kiwi is enjoying short and long-term BULLISH trends against the pound and Loonie
  • NZD/USD and NZD/JPY are bearish in the short-term but are still trading above the 200 SMA on the daily
  • Watch out for bearish pressure against EUR and CHF
NZD Forex Pairs SMAs from MarketMilk
NZD Forex Pairs SMAs from MarketMilk
  • NZD was most volatile against the safe havens and the European currencies in the last month
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 22 – 26!