Free Trial

NZD/USD Recoups Losses Amid Rebound In Stocks


NZD/USD picked up a bid Thursday as riskier assets got a boost after brokers imposed curbs on retail trader speculation, giving U.S. equity markets a shot in the arm. The rate wiped out its earlier losses and wrapped up above neutral levels.

  • NZ Treasury released its financial statements for five months through Nov 30. Budget deficit was NZ$4.34bn vs. NZ$6.22bn projected in the Half-Year Fiscal Update, while core tax revenue topped forecasts.
  • The latest ANZ Consumer Confidence Survey revealed improvement in sentiment, with headline index rising to 113.8 from 112.0. ANZ pointed out that household inflation expectations "have been persistently high in recent months," while house-price expectations are now highest on record.
  • NZ Ministry of Business, Innovation and Employment published its jobs report for the three months through Sep, which showed a continued recovery in job ads.
  • Top NZ health officials hold a press briefing at typing, Covid-19 Minister Hipkins informed that here are no new community cases of the disease.
  • NZD/USD last deals at $0.7174, little changed on the day. A jump above Jan 26 high of $0.7248 would clear the way to Jan 6 high of $0.7315. Conversely, a dip through the 50-DMA at $0.7125 would open up Jan 18 low of $0.7096.
  • NZ highlights next week include CoreLogic House Price Index (Monday), labour market report (Wednesday) as well as building permits & flash ANZ Business Confidence (Thursday).

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.