Partner Center Find a Broker

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.

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart
NZD Weekly Performance from MarketMilk
NZD Weekly Performance from MarketMilk

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:

New Zealand new home consents in March 2020 was 37,606, down slightly from 37,882 in the February 2020

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:

Covid pandemic has sent New Zealand’s expectations of inflation over the next two years plummeting to new lows

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.