Risk-taking made Kiwi the top boss last week.
Will the same economic themes move the comdoll this week?
Here’s a list of potential catalysts you should know about:
Lower tier reports
- ANZ Business Outlook adds to the evidence that the post-lockdown rebound may have run its course
- Building permits (Aug 31, 10:45 pm GMT) to gain by 1.0% in July
- Export prices (Sept 1, 10:45 pm GMT) seen dipping by 1.5% (from -0.2%) in Q2 2020 while import numbers are seen dropping by 2.0% (from 0.5%)
Market risk sentiment
- As seen in last week’s price action, updates on COVID-19 vaccines and stimulus efforts made by governments will influence NZD’s intraweek trends
- Manufacturing reports from the major economies will paint a picture of post-lockdown global economic recovery
- Closely watched reports from Australia and China can also affect Kiwi’s intraday or even intraweek price action
- The U.S. NFP report will affect NZD/USD’s trading and maybe take the rest of NZD’s pairs with it
Technical snapshot
- Bollinger Bands are flagging NZD/USD’s “overbought” conditions on the daily time frame
- NZD may also reach overbought status against JPY and EUR
- SMAs show Kiwi’s bullish trends against most of its major counterparts
- Watch out for retracement and reversal opportunities on AUD/NZD and EUR/NZD
- NZD has seen the most volatility against the safe havens and CAD in the last seven days
Missed last week’s price action? Read NZD’s price recap for August 24 – 28!
