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Kiwi bulls took the lead early on and never looked back on counter currency weakness and comments from RBNZ Governor Orr, signaling that unconventional monetary policy tools are off the table for now.

New Zealand Headlines and Economic data

No major headlines from New Zealand to lift the Kiwi higher on Monday and Tuesday, so it’s highly likely counter currency weakness (EUR & GBP hurt by Brexit developments, CAD dragged lower by weaker oil prices, USD weaker on negative U.S. geopolitical news, etc.) was the influence that broadly saw the Kiwi rise in value early week.

Wednesday:

Thursday:

Friday:

  • The Kiwi took a step back mid-U.S. trading session on Friday, likely on news that the White House deliberated blocking on all US investments in China.  This is a pretty big deal that likely increased speculation that the U.S.-China trade deal gets a lot harder to get done, thus extending the uncertainty that looms over global economic growth and the markets.