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NZD/USD Catches Bid Thursday, Prior Intraday High Caps Gains

NZD

NZD/USD benefitted from greenback sales into the WMR fix on Thursday amid firmer risk appetite amid chatter surrounding fiscal plans of U.S. Pres-elect Biden. Fedspeak helped keep a lid on the USD, as Fed Chair Powell pushed back against potential for any imminent rate hikes or bond-taper. The rally in NZD/USD failed to bring about a breach of the prior day's high at $0.7240 and the rate finished the day slightly below there.

  • REINZ House Sales increased 36.6% Y/Y in Dec after a 29.6% increase in Nov, with REINZ noting that it was "the best December ever." REINZ House Price Index rose 17.3% Y/Y hitting a fresh record.
  • Food price index rose just 0.1% M/M in Dec, clawing back the 0.9% decline recorded in Nov.
  • The pair last operates +7 pips at $0.7219. A clean break above the aforementioned $0.7240 level would bring Jan 6 high of $0.7315 into view. On the flip side, a fall through Jan 11 low of $0.7147 would open up Dec 28, 2020 low of $0.7084.
  • New Zealand's calendar for next week includes card spending data (Tuesday) as well as BusinessNZ M'fing PMI & CPI (Friday).
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