Partner Center Find a Broker

New Zealand is scheduled to print top-tier reports this week, which means Kiwi traders will likely focus on countercurrency moves and market risk sentiment.

Which themes can dominate Kiwi’s price action?

I’ve got a short list!

Business-related reports

  • Traders pay attention to business-related releases because the Reserve Bank of New Zealand (RBNZ) considers business sentiment in its monetary policies
  • Quarterly manufacturing sales (Sept 8, 10:45 pm GMT) to drop by 12.0% after an annualized decrease of 1.9% in Q1 2020
  • ANZ business confidence (Sept 9, 1:00 am GMT) printed an improvement from -42.4 to -41.8 in August
  • Business NZ manufacturing index (Sept 10, 10:30 pm GMT) expected to dip from 58.8 to 58.2 in August

Countercurrency moves and overall risk sentiment

  • Closely watched reports from Australia and China – New Zealand’s top trading partners – can influence NZD’s intraweek trends
  • There aren’t a lot of top-tier reports scheduled from the other major economies this week, so watch out for potential profit-taking in the markets
  • Pandemic-related updates like the number of cases, lockdown prospects, vaccine progress, and stimulus projections can still affect the demand for the high-yielding Kiwi

Technical snapshot

  • Stochastic considers the Kiwi overbought against almost all of its major counterparts on the daily time frame
NZD Forex Pairs Stochastic from MarketMilk
NZD Forex Pairs Stochastic from MarketMilk
  • SMAs hint of NZD seeing short-term bearish pressure across the board
  • Watch out for retracement or reversal opportunities on AUD/NZD
NZD Forex Pairs SMAs from MarketMilk
NZD Forex Pairs SMAs from MarketMilk
  • Kiwi saw the most volatility 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 Aug. 31 – Sept. 4!