Free Trial

Kiwi Extends Losses, ANZ Consumer Confidence Little Changed


NZD/USD extended its current losing streak to four straight days Thursday, as the greenback's upswing drove the pair lower over the WMR fix. Having underperformed the USD each day this week, the kiwi is poised to head into the weekend as one of the worst performers in G10 FX space.

  • Thursday's Asia-Pac session saw NZD/USD overnight ATM implied volatility jump to its highest level since May 26, before it eased off in NY hours.
  • Spot NZD/USD remains heavy and has already shed 11 pips this morning. It last sits at $0.6963, with bears looking for a clean break below $0.6923, which limited losses on Jun 18. Conversely, a rebound above Jun 25 high of $0.7095 would give bulls some reprieve.
  • New Zealand's ANZ Consumer Confidence registered at 114.1 in June, little changed from the previous reading of 114.0. An uptick in current conditions was coupled with a fall in future conditions, while firmer CPI inflation expectations came alongside softer house price inflation expectations.
  • The local docket is relatively light next week, with ANZ Commodity Price Index & NZIER QSBO coming up Monday & Tuesday respectively.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.