NZD Weekly Forecast (May 25 – 29)

NZD Weekly Forecast (May 25 – 29)

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FOREX SIGNALS

Welcome to a brand spankin’ new trading week!

Can the bulls maintain their momentum and push the Kiwi to the top spot again?

Here are catalysts you should pay attention to:

Trade balance (May 25, 10:45 pm GMT)

  • Trade surplus widened from 531M in February to 672M NZD in March
  • NZD rose thanks to exports hitting a record high and markets optimistic about economies reopening post pandemic
  • Analysts see the surplus doubling to 1,270M NZD in April

ANZ business confidence (May 28, 1:00 am GMT)

  • The Reserve Bank of New Zealand (RBNZ) considers business surveys in its policy decisions so you should watch it too
  • Business confidence improved from -66% to -46% in April
  • NZD popped higher at the release though it gave in to intraday weakness in the middle of the Asian session

Market risk sentiment

  • Optimism and concerns over more economies reopening during a pandemic will continue to affect the high-yielding Kiwi’s prices
  • Stimulus talks from both the RBNZ and other global authorities can also affect demand for NZD
  • As an exporter, major headlines over the U.S.-China tensions will impact NZD’s intraweek prices

Technical snapshot

  • Stochastic believes that NZD is “overbought” against the GBP, CAD, JPY, and USD on the daily time frame
NZD Forex Pairs Stochastic from MarketMilk
NZD Forex Pairs Stochastic from MarketMilk
  • Kiwi is still on a downtrend against Aussie
  • NZD is bullish across short and long-term EMAs against GBP
  • NZD is trading around 3% below the 200 EMAs against the safe havens
NZD Forex Pairs EMAs from MarketMilk
NZD Forex Pairs EMAs from MarketMilk
  • NZD has seen the most volatility against JPY, USD, GBP, and CHF in the last seven days
NZD Forex Pairs Volatility from MarketMilk
NZD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read NZD’s price recap for May 18 – 22!



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