New Zealand has a light data calendar this week, which doesn’t mean that Kiwi won’t see volatility. Here are catalysts to watch out for!
Quarterly PPI (Feb 19, 9:45 pm GMT)
- Producer input prices rose by 0.9% in Q3 2019 vs. 0.5% expected, 0.3% previous
- Output prices inched 1.0% higher after a 0.4% slip in Q2
- The drop in log demand and U.S.-China trade concerns at the time helped drag NZD to its intraweek lows
- Markets see input prices rising by 0.4% while output prices could accelerate by 0.3%
Market risk sentiment
- Closely watched reports like U.S., Euro Zone, and Australia’s PMIs and FOMC and RBA’s meeting minutes can affect overall risk appetite
- Coronavirus concerns can continue to affect demand for the high-yielding NZD
- Stochastic considers NZD as “overbought” against EUR
- NZD/JPY is “bullish but weakening” on with long-term SMAs but “bearish” on shorter time frames
- AUD/NZD is “bearish but weakening” on with long-term SMAs but “bullish” with shorter term SMAs
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.
CLICK THE FOLLOWING LINK AND READ AGAIN.