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With no economic data due from New Zealand, Kiwi traders will take their cues from the comdoll’s major counterparts.

Which potential catalysts should you be looking at?

Here’s a list!

Market moving events from other economies

  • PMI reports from China, U.S., and the Eurozone would hint at the pace of global economic recovery
  • Lower-tier data from Australia (job ads, trade balance), one of New Zealand’s largest trading partners, can influence NZD’s intraday volatility
  • NFP-related news in the U.S. can cause intraday spikes for NZD/USD and NZD/JPY

Overall risk sentiment

  • Start-of-year optimism could boost high-yielding bets like the Kiwi
  • Vaccine-related updates can also support risk-taking in the next few days
  • Results of Georgia’s Senate runoff elections can dominate the newswires during the week
  • Major dollar pairs will also move around on January 6 when the U.S. Congress is expected to cement Joe Biden’s presidency

Technical snapshot

  • RSI considers NZD/USD as “overbought” on the daily time frame
  • Kiwi is approaching “oversold” levels against the Aussie
  • NZD remains in neutral territory against GBP
NZD Forex Pairs RSI from MarketMilk
NZD Forex Pairs RSI from MarketMilk
  • Daily SMAs show the Kiwi’s short and long-term bearish trends against the Aussie
  • NZD remains in bullish trends against the USD, CHF, and EUR
  • NZD is seeing short-term weaknesses against CAD, JPY, and GBP
NZD Forex Pairs SMA from MarketMilk
NZD Forex Pairs SMA from MarketMilk
  • NZD was most volatile against GBP and the safe-havens in December
NZD Forex Pairs Volatility from MarketMilk
NZD Forex Pairs Volatility from MarketMilk