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The Kiwi ends the week as a net loser, likely on a combination of weak economic updates from New Zealand & surprise negative developments from the U.S.-China trade story

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart

New Zealand Headlines and Economic data

Monday:

Tuesday:

Wednesday:

Thursday:

  • Trump announces new tariffs on $300 billion in Chinese goods – this event set global financial markets into fear and uncertainty mode as traders were caught off guard given the earlier rhetoric in the week was that U.S.-China negotiations were ‘constructive.’ The Kiwi moved broadly lower on both risk-off flows and the likely economic damage this would do to China, who New Zealand has a very large trading relationship with.