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The Kiwi was the currency to rule them all thanks to rising global risk sentiment, lifting risk assets as more and more positive geopolitical and economic developments were released throughout the week.

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

New Zealand Headlines and Economic data



  • With not major catalysts from New Zealand, the turn higher in the Kiwi was likely a combination of trading higher with the Aussie off of a no interest rate cut statement from the RBA to hold short-term rates at 1.00%.




  • China’s PBOC cuts reserve ratio for banks as economy stalls – this stimulative action lifted risk assets across the board, adding to a week of positive Chinese economic data, fading geopolitical concerns in Hong Kong, and a positive turn in the U.S.-China trade war to push the Kiwi into the top spot against the major currencies into the weekend.