Partner Center
Find a Broker
Welcome to a brand spankin’ new trading week!
Major currencies are in for a busy economic calendar and the Kiwi is no exception.
Check out the catalysts that might affect the comdoll this week!
Quarterly CPI (Jul 15, 10:45 pm GMT)
- Prices rose by 2.5% in the year to Q1 2020, the highest since Q3 2011
- Quarterly prices also inched up by 0.8% after a 0.5% gain in Q4 2019
- New Zealand extending its lockdown measures by a week offset the positive impact of stronger-than-expected inflation numbers
- Analysts see a 0.4% CPI decline in Q2 2020
- Annualized prices could only gain by 1.6% (from 2.5%)
Business NZ manufacturing index (Jul 16, 10:30 pm GMT)
- The PMI recovered from 25.9 to 39.7 in May
- The positive report helped boost NZD throughout the Asian session
- We could see the reading improve to 43.0 in June
Top-tier reports from Australia and China
- New Zealand does a lot of trade with Australia and China, so top-tier reports from these economies can influence demand for NZ’s exports
- China’s trade surplus (Jul 14, Asian session) to ease in June as exports are set to improve faster than imports
- Australia’s labor market readings (Jul 16, 1:30 am GMT) could see the unemployment rate hit 7.5% and a net jobs increase of 110K in June
- China’s GDP (Jul 16, 2:00 am GMT) to print at 2.4% (from -6.8%) in Q2 2020 while industrial production, retail sales, and unemployment rate are also expected to come in higher than in May
Overall market sentiment
- Global coronavirus cases and their impact on economic recovery will continue to affect high-yielding currencies like the Kiwi
- Top-tier reports from other major economies, such as interest rate decisions from BOJ, BOC, and ECB and U.S. retail sales release can also influence market risk appetite
Technical snapshot
- RSI considers NZD as “overbought” against CAD on the daily time frame
- Kiwi is also below the 50.0 mark against all of its other major counterparts

- NZD is generally on short and long-term bullish trends against its counterparts, though it’s trading below the 200 SMA against the AUD
- Watch out for short-term retracements or longer-term reversals against EUR, GBP, and JPY

- Kiwi was most volatile against the safe havens and the Loonie in the last seven days

Missed last week’s price action? Read NZD’s price recap for July 6 – 10!