Free Trial

New Zealand Declares Covid Case In Community, NZD Softens


The kiwi has started the week on a softer footing after New Zealand reported its first community transmission of Covid-19 in two months. NZD/USD has faltered and last trades -7 pips at $0.7183 after bottoming out within touching distance from the Friday low.

  • The new patient tested positive after completing the mandatory two-week quarantine in one of the managed isolation facilities upon her return from Europe. NZ Director-General of Health Bloomfield said that the authorities "are working on the assumption that this is a positive case and that it is a more transmissible variant," as they await the result of a further test.
  • NZ Health Min Hipkins & Director-General of Health Bloomfield will hold a presser at 13:00 local time.
  • A recent op-ed from noted that the "big four" banks reduced one-year fixed-term mortgage rates at the start of 2021; "there's little sign, however, of movement in their floating, or variable, mortgage rates."
  • Bears look for a slide through the 50-DMA at $0.7103 would bring Jan 18 low of $0.7096 into play. On the topside, a push through Jan 13 & 14 highs of $0.7240 is needed to bring Jan 6 high of $0.7315 into view.
  • NZ highlights this week include trade balance (Thursday) & ANZ Consumer Confidence (Friday).

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.