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After a rough start to the week on weak New Zealand business sentiment data and global risk-off sentiment, the New Zealand dollar recovers to net winner status on improving global risk sentiment as geopolitical risks and global growth fears faded towards the end of the week.

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:

Friday:

  • No major bullish catalysts from New Zealand on the session, so it’s likely the Kiwi saw some support from broad global risk-on sentiment and/or a continued reversion from the extreme negative sentiment from earlier in the week. The net positive U.S. employment report (unemployment ticks lower to 3.5%, August job adds revised higher) quelled some of the fears sparked by weak manufacturing sentiment earlier in the week, but the Kiwi saw some selling following the report, possibly on profit taking / USD strength after the event.