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With a lack of major catalysts from New Zealand, the Kiwi had a relatively quiet, choppy week. It’s movements were mainly tied with counter currency and global risk sentiment flows, but ultimately couldn’t create a uniform directional bias in the New Zealand dollar.

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

New Zealand Headlines and Economic data

Monday:

  • With no catalysts from NZ, it’s likely the move lower in Kiwi pairs during the European trading session stemmed from weak global risk sentiment, likely a reaction to reports of China seeking to narrow its trade deal with the U.S. This set a negative tone for the upcoming meeting between the U.S. and China later in the week. It’s also possible that weakness in the Aussie off of weak construction sector sentiment data may have put pressure on the Kiwi as well.

Tuesday:

Thursday:

Friday: