NZD The NZD/USD sits at a similar level to yesterday morning, at 0.8480, at present.
OUTLOOK CURRENCY: We would expect USD to find a cautious bid, as markets search for answers to the USD sell off. Australian employment will drive NZD/AUD, while the ECB should keep EUR capped overnight.
OUTLOOK CURRENCY: New Zealand Q2 employment is the next NZD event, markets will look to sell any strength it generates, and punish any weakness. British industrial production has lagged other indicators and may pressure GBP.
NZD The NZD was whipsawed by a strong US GDP number and a mixed FOMC statement, but remains slightly weaker against the USD at 0.8490.
OUTLOOK CURRENCY: The USD will continue to drive currency direction, and we expect it to remain bid as we await payrolls and ISM data on Friday night. US jobless claims and employment costs will dictate direction tonight.
NZD The NZD was the worst performing major currency, falling 0.6% against the USD on the back of a lower milk payout forecast and stronger US data. NZD/USD hovers just below the 0.8500 mark this morning.
OUTLOOK CURRENCY: Market attention switches to the USD tonight, with Q2 GDP and the FOMC to drive market direction. Markets have been wary of buying USD ahead of tonight's headline risk. If expectations are met, USD should rally.
OUTLOOK CURRENCY: Another relatively quiet day is expected as markets await US Q2 GDP and the FOMC on Wednesday night. We expect NZD/USD to remain under pressure, but profit taking to provide support near to 0.85.
NZD The NZD continued to step lower on Friday, weakening against the USD in line with other major currencies. NZD/USD closed 0.2% softer just above 0.8550.
OUTLOOK CURRENCY: The week starts quietly, with no data from Australia, New Zealand or Asia expected today. The Markit Services PMI from the US will be a minor release of note as markets await larger US data releases.
NZD The NZD/USD sits fractionally higher at 0.8690 this morning, ahead of the RBNZ’s (9am NZT) meeting.
OUTLOOK CURRENCY: The RBNZ will decide NZD/USD direction, but we expect NZD to decline in the coming weeks. The EUR is unlikely to find support from July activity updates, but China and US updates should be supportive for growth.
OUTLOOK CURRENCY: Australian Q2 CPI should support AUD, pressuring NZD/AUD. GBP may come under pressure should the BoE minutes not have evidence of discussions over policy normalisation. NZD should remain under pressure into tomorrow's RBNZ meeting.
OUTLOOK CURRENCY: NZ net migration and credit card spending should have minimal impact in a very quiet start to the week from a data perspective. Geopolitics and events later in the week - particularly the RBNZ - will drive direction.
NZD The NZD is down 0.5% against the USD, the worst performing major currency on the back of another large slide in dairy prices, as well as broader USD strength. NZD/USD sits just below 0.8770 currently.
OUTLOOK CURRENCY: Q2 CPI ensures NZD will remain in focus. After dairy declines markets will be ready to sell NZD on any weakness. GBP remains a focus with the monthly employment report, and the USD has the July Beige Book.
OUTLOOK CURRENCY: Currency markets will focus on Fed Chair Yellen's testimony to the Senate and BoE Governor Carney's testimony to the UK Parliament tonight. Markets will be looking for shifts in tone from both.
OUTLOOK CURRENCY: It is a relatively quiet end to the week, and we expect stability in the currency markets. NZ food prices and REINZ housing prices are not expected to provide catalyst for change. RATES: NZ yields will open lower on global wobbles and on fresh demand.
OUTLOOK CURRENCY: The Q2 Quarterly Survey of Business Opinion (QSBO) is expected to in decline from Q1 peaks, keeping pressure on NZD. Australian business confidence and US small business optimism are also drivers.
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NZD The NZD was among the worst performers on Friday, albeit in an evening where major currencies were little changed. NZD/USD closed 0.2% lower at 0.8740.
OUTLOOK CURRENCY: New Zealand QV house prices are unlikely to impact NZD, but should highlight that house prices remain a factor for the RBNZ. EUR remains the offshore focus with German industrial production expected to keep pressure on EUR from a fundamental perspective.
OUTLOOK CURRENCY: The US is out for Independence Day, and the rest of the world only has minor economic events. Markets should consolidate and digest the strength in US payrolls.
OUTLOOK CURRENCY: Major offshore events in the form of US Payrolls and the ECB will drive currency markets today. NZD may remain resilient on the demand side due to offshore investment flows, but we remain a seller on rallies.
NZD The NZD/USD sits marginally lower, at 0.8770, this morning.
OUTLOOK CURRENCY: NZD will be under pressure on cross due to dairy prices falls, with the ANZ Commodity Price Index a key release. US Fed Chair Yellen delivers an IMF lecture, and ADP/Factory orders will drive the USD leg of kiwi.
By Garry Dean (Sales Trader, CMC Markets New Zealand)
NZD The NZD/USD sits a little lower, at 0.8750, this morning.
NZD The NZD sat atop the G10 leaderboard for the second day running, as bulls sought a break higher. The NZD/USD is 0.4% stronger at 0.8770.
OUTLOOK CURRENCY: ANZ expects a smaller than consensus trade surplus for May to be announced today, but NZD should remain strong. German CPI will be important for EUR. Otherwise we expect currencies to consolidate.
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