The Kiwi nearly takes the top spot, riding the net positive risk sentiment wave higher at the end of the week.
We also saw surprise better-than-expected New Zealand jobs data and New Zealand re-opening news to likely bring support the the Kiwi dollar.
New Zealand Headlines and Economic data
Monday:
Australia and New Zealand discuss possible trans-Tasman ‘travel bubble’
New Zealand’s Ardern asks citizens to follow virus-linked curbs even as no new cases reported
The Kiwi drops at the start of the week, likely on a fresh round of global economic news (global factory activity sinks to new lows) and renewed tensions between China and the U.S.
Tuesday:
Australia, New Zealand work to open borders to each other
Wednesday:
New Zealand PM Ardern says country is safe-haven for investment
New Zealand Q1 employment up 0.7% vs. projected 0.2% drop
New Zealand Q1 jobless rate up from 4.0% to 4.2% vs. 4.4% forecast
New Zealand Q4 2019 employment upgraded to show 0.1% gain
Economy will still be almost 9% under power during level 2, Reserve Bank says
Thursday:
Positive global risk sentiment continued as news of more economies on the path to end lockdown restrictions. Better-than-expected Chinese trade data and more more positive news on Gilead Sciences’ COVID-19 drug remdesivir likely played a factor as well.
Friday:
Finance Minister Grant Robertson: Govt may open borders to international students
No major catalysts from New Zealand so it’s likely the rally higher in Kiwi was a continuation of Thursday’s drivers, and possibly on not-as-bad-as-expected U.S. (20.5M jobs lost in April) and Canadian employment (2M jobs lost in April) updates.
