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NZD to USD – US Dollar to New Zealand Dollar

When converting NZD to USD, or United States dollars to New Zealand dollars (USD to NZD), with Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD/USD currency conversion rates.

NZD to USD Overview: The US is New Zealand’s second largest export market and third in import terms. This had made the NZD to USD exchange rate a focus of our money transfer team for many years. The NZD/USD exchange rate can be volatile at times, especially during peaks and troughs of the cash rate cycles. The NZD is considered a “growth” currency, and the USD a “safe haven” currency. Our team will help you interpret market conditions when you make your currency transfer.

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Historical Ranges: 1 year 5 years 10 years
NZD/USD .6817 – .7484 .6072 – .8834 .4893 – .8841

Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 1.50%         US Federal Reserve (FED): 2.25% to 2.50%

We provide insight into the NZ Dollar and US Dollar (NZD/USD) currency pair by reporting trends, market news and providing relative currency charts.


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It’s really has been a week of two halves for the New Zealand dollar (NZD). Early in the week the NZD was under pressure on the back of a stronger USD in the wake last Friday’s solid US employment report. The NZD broke below 0.6600 and even had a very quick flurry down to a low of 0.6569 on Wednesday. But momentum turned around on Wednesday night after Fed Chair Powell’s dovish testimony put the United States dollar under significant pressure. The NZDUSD gains continued yesterday reaching a high over night of 0.6688. Resistance on the topside comes on around 0.6725 will downside support is seen around 0.6560. With both countries central banks signalling upcoming monetary easings we may well see the NZDUSD continue to range between those two levels over the coming weeks.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6665
The interbank range this week has been: NZDUSD 0.6569 – 0.6688

The New Zealand dollar (NZD) peaked at 0.6720 mid last week vs the United States dollar (USD), but since then we have seen a sharp turn around driven in large part by strong US employment data on Friday night. The gain of 224k Non-Farm Payrolls was well above expectations and it saw the USD make broad based gains. That drove the NZDUSD cross rate down to a low of 0.6603 before recovering slightly. For now the risks remain skewed to the downside and we could easily see the NZD back under 0.6600 this week. There is little of note set for release from NZ over the coming days, while from the US we have Fed Chair Powell speaking along with inflation data. Clients looking to convert USD to NZD should hold in for a move below 0.6600.

Exchange Rates
Current Level: 0.6623
Resistance: 0.6655
Support: 0.6555
Last Weeks Range: 0.6603-0.6720

The New Zealand Dollar (NZD) has been well supported towards the later half of the week against the US Dollar (USD) after pushing off the recent low of 0.6655 to trade at 0.6690 after briefly reaching 0.6720 yesterday. NZIER Business Confidence printed well below reasonable levels back to March 2009 figures, with some banks now pricing two further cuts this year with the August release almost fully priced in. The timing of the second cut will be determined by incoming data. Expect the cash rate to be at 1.0% by year end. Tomorrow morning’s US Non Farm Payroll’s prints, which if the earlier ADP release is anything to go off should come in well below expectations of 102,000 boosting NZD.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6708
The interbank range this week has been: NZDUSD 0.6655- 0.6726

The recent reversal off the weekly close by the New Zealand (NZD) shows just how fast markets can turn. The US Dollar (USD) is back in favour after an upbeat meeting between President Trump and Xi Jinping at the weekend’s G20 bought back investors to the greenback. After reaching 0.6726 the NZD has slid back to 0.6670 Tuesday. NZIER Business Confidence this morning printed well below what’s is considered optimistic levels to March 2009 levels, with some banks now pricing two further cuts this year with the August 8 release almost fully priced in. The timing of the second cut will be determined by incoming data. Expect the cash rate to be at 1.0% at year end. US Non-Farm Payroll for June is released Friday with expectations of another good release in job’s numbers around 164,000 and unemployment to remain stable at 3.6%. US Bank Holiday Thursday with Independence Day should create slow markets leading into NFP.

Exchange Rates
Current Level: 0.6969
Resistance: 0.6725
Support: 0.6650
Last Weeks Range: 0.6595-0.6726

Bearish US Dollar sentiment and mild improvement in risk markets have assisted the New Zealand Dollar (NZD) pushing higher to the big figure of 0.6700 overnight. Equity markets, the DOW, S&P together with the Nasdaq have all gone higher not to mention commodity prices. Focus this week has been on the RBNZ cash rate announcement with Adrian Orr leaving rates unchanged at 1.50% supporting market sentiment that further easing is required. Cutting rates on 7 August meeting now is almost fully expected and priced into the curve with Orr reconfirming risks associated with worsening employment and inflation outlook. The kiwi now is at a 10 week high as it looks to go higher. We see this as strange with the only reason price is not at 0.6600 purely on offshore risk bias. We don’t expect this to last especially not given the dovish RBNZ and rate cuts on the horizon. Converting NZD into USD represents very good value now.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6702
The interbank range this week has been: NZDUSD 0.6583- 0.6706

The New Zealand Dollar (NZD) has pushed aside the two-week high of 0.6604 Tuesday against the US Dollar (USD) after risk markets seem reasonably buoyed by recent events. NZ Trade Balance figures for May printed at 264M from the 200M we were expecting, boosting the kiwi to 0.6630. Wednesday’s RBNZ cash rate announcement is the market focus this week with comments from Orr on future monetary policy key to NZD immediate direction. Anything less than unmistakably dovish could see the kiwi push north and retest 0.6700. US quarterly GDP which is expected to print higher at 3.1% over the first quarter result of 2.2% is well below the 5.0% Trump predicted, and could send the greenback lower on a poor result early Friday morning

Exchange Rates
Current Level: 0.6635
Resistance: 0.6680
Support: 0.6600
Last Weeks Range: 0.6490-0.6639

I never would have imagined seeing a complete U turn in the New Zealand Dollar accentuate this week like it has against the US Dollar (USD). Pegging back just about all of last week’s losses we have seen the kiwi rally to 0.6590 Friday. A number of key factors have contributed to buyers back in the kiwi – The Fed all but announcing they would cut rates on the 1st of August, a positive first quarter NZ GDP release and a speculation US and Chinese officials will positively resolve the war on trade late next week at the G20 meeting. We think the kiwi will continue to creep higher as long as geopolitical worries don’t come back to haunt market risk sentiment. For now, it looks like the NZD won’t retract back towards the early week lows around 0.6500. Buying USD clearly represents good buying.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6588
The interbank range this week has been: NZDUSD 0.6489- 0.6595

The New Zealand Dollar (NZD) sits perched at Monday’s session lows against the US Dollar (USD) around 0.6495 after briefly tracking to 0.6487 Friday. Massive support sits at 0.6480 the 23 May low, below this is the long-term support area around 0.6425 the January 2016 low. The big dollar took a hit overnight from the manufacturing sector where business activity has taken a sharp turn downward with the Empire State manufacturing index falling -8.6 the largest drop on record. This clearly has dented optimism. The Federal Reserve Funds Rate is Thursday 6.00am NZT and should report a dovish stance when they keep the rate unchanged until at least July. NZ quarterly GDP prints Thursday. Watch for further downside momentum if the Fed are overly dovish.

Exchange Rates
Current Level: 0.6498
Resistance: 0.6555
Support: 0.6480
Last Weeks Range: 0.6488-0.6617

The New Zealand Dollar (NZD) has continued to deteriorate and reverse last week’s gains against the US Dollar (USD) trading to 0.6558 Friday lunch. US CPI increased to 0.1% in May on a seasonally adjusted basis after rising 0.3% in May, the greenback was put under pressure momentarily but overall overnight the kiwi has retained its weakness. US Retail Sales prints later tonight. Focus locally next week will fall to first quarter NZ GDP and the Fed Funds rate and statement. Geopolitical headlines will also continue to drive markets, clients looking to convert USD to NZD should consider at these extremely low levels.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6542
The interbank range this week has been: NZDUSD 0.6524- 0.6625

Just as quick as the New Zealand Dollar (NZD) registered a fresh high of 0.6680 it retraced earlier gains to close the week at 0.6665. Momentum has continued into Tuesday with risk averse sentiment replacing the buoyant mood of last week. A softer US Dollar (USD) was the theme after NFP- Non-Farm Payroll figures disappointed publishing at an underwhelming 75,000 compared to the 177,000 expected assisting the kiwi higher. This week sees a moderately busy week on the data docket with US CPI m/m Thursday followed by Friday’s US Retail Sales. Geopolitical headlines should continue to drive movement. Sellers of USD should consider current levels around 0.6600 after the spike lower off the recent high.

Exchange Rates
Current Level: 0.6609
Resistance: 0.6680
Support: 0.6600
Last Weeks Range: 0.6575-0.6681

The NZ dollar punched above its weight last night, rising to a high of 0.6665 against the USD on the back of a mild recovery in risk-on tone allied to a softer USD after the weaker than expected ADP employment data.
With little in the way of local data releases over the rest of this week we expect the NZD to remain around current levels driven by offshore events ahead of tomorrow’s US Non-Farm payrolls figure.
The NZD/USD has slipped back to around the 0.6614 level and should hold above the 0.6600 short term support level , if broken next support is around 0.6550 …upside moves should be held at last night’s 0.6665 high…..Look for choppy trading into next week as the trade war headlines continue to dominate currency direction with any ventures of the Kiwi into the 0.6675-0.6720 seen as a selling opportunity.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6620
The interbank range this week has been: NZDUSD 0.6524- 0.6666

US Dollar (USD) strength overnight has kept the New Zealand Dollar (NZD) on the backfoot trading lower from 0.6550 to 0.6520. Support for the kiwi is starting to look questionable with the recent bearish trend channel resuming as risk markets teeter. Equity and commodity markets all took tumbles, the DOW down almost 1.0% as the Chinese made comments in the trade war that rages on between China and US negotiators. “Don’t say we didn’t warn you” – words from an official Communist Party of China, titled – “United States, don’t underestimate China’s ability to strike back.” There have only been two other occasions when China has said these words, in 1962 before China’s border war with India and in 1979 ahead of the 1979 Vietnam War. Yikes – we could see the trade war get a whole lot worse, damaging world growth a longer period than we thought. The kiwi looks to retest the low of 0.6480 with US prelim GDP printing tonight.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6514
The interbank range this week has been: NZDUSD 0.6504- 0.6558

The Federal Reserve minutes released late last week only served to reinforce the current “patient” stance of the US central bank. In other words, they view a wait and see approach to fundamentals / economic data before making a shift to policy either way. The NZDUSD traded to a cycle low of 0.6482 Thursday, but then staged a solid bounce back up over 0.6500 after US data disappointed. With the kiwi breaking above key bearish channel momentum to the topside through 0.6540 this could signal further price action north this week. The pair is still trading around the weekly open of 0.6550 after thin markets yesterday with US holiday – Memorial Day keeping trading volume light. We don’t expect any wild swings over the week with little data to release offering impact. RBNZ Financial Stability Report and ANZ Business Confidence publish tomorrow ahead of Thursday’s US prelim q/q GDP. Big picture downside bias is still the theme, buyers of USD don’t get to greedy looking for mush above current levels. Thursdays NZ “Wellbeing” budget should have little impact on the kiwi.

Exchange Rates
Current Level: 0.6547
Resistance: 0.6580
Support: 0.6480
Last Weeks Range: 0.6480-0.6455

The New Zealand dollar (NZD) has been under pressure for much of the week against the United States dollar (USD), on the back of continued negative risk sentiment. The US Fed minutes release yesterday morning only served to reinforce the current “patient” stance of the US central bank, while NZ retail sales data on Wednesday came in close to market expectations at 0.7% and had little market impact. The NZDUSD traded to a cycle low of 0.6482 overnight Thursday, but then staged a decent bounce back up over 0.6500 after disappointing US data. That bounce saw the NZDUSD test key downtrend resistance at 0.6525 early this morning, but so far that’s managed to cap the pair. Until we get a sustained move above 0.6525, the dominant downtrend remains in place and the risks are skewed toward further NZD losses. That being said, clients looking to convert USD to NZD shouldn’t get too greedy as this entire trend is starting to get a little “long in the tooth”. Stop-loss orders will likely be collecting somewhere above 0.6525 and if the market managed to break above that level and trigger some stops, a sharp recover toward 0.6580 or even 0.6600 could eventuate. Major downside support is seen at 0.6425, being the 2018 low, but that’s still reasonably far away at this stage.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6515
The interbank range this week has been: NZDUSD 0.6481- 0.6546

The New Zealand Dollar (NZD) bounced around like a homeless ping pong ball for most of last week overall depreciating further against the US Dollar (USD) posting a fresh yearly low of 0.6514. The risk averse mood seemed to dissipate Monday morning with the pair reaching 0.6546 before easing Tuesday back towards 0.6530. Solid US Data continues to drive buyers into the greenback with improving (UoM) University of Michigan Consumer Sentiment releasing at 102.4 base on the 97.8 market forecasts. This is the strongest reading in 15 years and shows an upbeat outlook towards the US economy through 2020. Fed chair Powell spoke about rising concerns in corporate debt levels saying the corporate borrowings behaviour closely resembled the subprime mortgage boom leading up to the 2008 crash. The Fed is not about to raise the cash rate any time soon.

Exchange Rates
Current Level: 0.6537
Resistance: 0.6580
Support: 0.6515
Last Weeks Range: 0.6513-0.6602

The New Zealand dollar (NZD) had a wild ride over the past 12 hours or so, but it’s ultimately ended up trading at the weeks lows against the United States dollar (USD), early on Friday morning. Solid US data and continuing US – China trade concerns have kept the pressure on the Kiwi, although last night’s weakness was a little hard to justify with stocks and commodities (the so called “risk” indicators) all making gains. In that sort of positive risk environment the NZD usually does pretty well. What may well be weighing on the NZD is a rapidly declining Chinese yuan, that looks to be heading back to the 2018 lows. In the current environment of heightened trade concerns, the NZD is going to remain vulnerable to periods of sharp weakness. The next key downside support area is the October 2018 low of 0.6425.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6535
The interbank range this week has been: NZDUSD 0.6532 – 0.6611

In the wake of a rate cut from 1.75% to 1.5% last week the New Zealand Dollar (NZD) has remained reasonably resilient against the US Dollar (USD). At one stage post the RBNZ announcement the pair travelled to 0.6527 before reversing back. The big story is the breakdown between US negotiators and Chinese negotiators, the Trump govt has given China a month to secure a deal or face tariffs on not only the current 200B worth of Chinese products but the entire exports of 525B adding an additional 325b to the table. Secretary Mnuchin has said there is no further follow up discussion between parties to take place. Markets continue to be risk averse, the DOW, Nasdaq and S&P have all dropped over 2.5% in the overnight sessions. A quiet week of data sees only US Retail Sales Thursday and later Building permits. Risk will dictate general flow over the rest of the week.

Exchange Rates
Current Level: 0.6581
Resistance: 0.6615
Support: 0.6560
Last Weeks Range: 0.6526-0.6630

The New Zealand Dollar (NZD) fall to a fresh 2019 low of 0.6525 against the US Dollar this week after the Reserve Bank of New Zealand cut the benchmark rate from 1.75% to 1.50%.
The RBNZ surprised markets in a unanimous vote by the new RBNZ monetary policy committee. Comments which followed from Adrian Orr suggested this was necessary to counteract the outlook for employment and low inflation. The committee wanted to get ahead of the game plan. We see rates remaining unchanged until early 2020 where they will drop another 25 points to 1.25% before climbing again in 2022. Adding to the NZD worries is the heated situation in the trade war between the US and China with Trump unhappy with the way the Chinese have reacted to parts of the negotiated deal. Markets turned risk averse with further talks to take place again tomorrow. We expect the bearish momentum for the kiwi to continue into next week especially if US Core CPI m/m prints up tonight.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6600
The interbank range this week has been: NZDUSD 0.6525- 0.6630

The New Zealand Dollar (NZD) holds just above the yearly low of 0.6580 against the US Dollar (USD) trading at 0.6608 currently. Risk currencies were hit on the weekly open with trade tariff concerns back on the table with Trump looking at raising the current tariff from 10% to 25% this Friday, spooking markets. Reversing off last week’s high of 0.6680 when NZ unemployment figures released down on predictions, downside momentum remains ahead of the RBNZ rate announcement tomorrow. Probability lies at 50/50 for a cut with all eyes focusing on the monetary policy to gauge further direction. We think Orr will confirm a wait and see style approach cutting later in the year – but with inflation continuing to drop to 1.5% in the first quarter of 2019 who knows. Clients looking to convert NZD to USD should consider at current levels with risks swayed to the downside.

Exchange Rates
Current Level: 0.6605
Resistance: 0.6680
Support: 0.6580
Last Weeks Range: 0.6598-0.6684

The New Zealand Dollar (NZD) has been heavy over the week trading down to 0.6615 Friday. Weak Chinese Manufacturing data affected any chance of the NZD continuing last week’s bullish momentum. US Dollar strength through ADP data and less than optimistic NZ job’s report left the kiwi battling into Thursday. The Federal Reserve left rates unchanged at 2.5% as expected with the Powell’s reports hinting that the next review would not be a rate cut. Non-farm Payroll comes in overnight and is expected to release a figure around 180k in line with March figures. Next week’s RBNZ cash rate and monetary review is looking to be one of the more awaited editions with chances viewed currently at 50/50 call for a cut.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6618
The interbank range this week has been: NZDUSD 0.6607- 0.6684

The New Zealand Dollar lost ground last week slumping to 0.6580 against the US Dollar (USD) trading to the lowest level in 2019. Greenback strength as well as a sympathy fall on the back of poor Aussie CPI data also impacted the extended fall tracking back several weeks. The bearish decline from 0.6920 in late March gathers pace. With prospects of the RBNZ cutting rates at the next meeting on May 8th we see limited upside in the kiwi. NZ Employment data publishes Wednesday followed by a slew of US based data releases including the main weekly focus of the Fed rate announcements followed by (NFP) Non Farm Payroll Friday night. Price in the pair should hold above the 0.6420 low of September 2018 but anything could happen with so much influencing price in the short to medium term.

Exchange Rates
Current Level: 0.6664
Resistance: 0.6695
Support: 0.6580
Last Weeks Range: 0.6580-0.6681

The New Zealand dollar (NZD) continues to lose ground against the United States dollar (USD), trading to the lowest level since January overnight, at 0.6629. While the move in the past 12 hours has come on the back of broad based USD strength, the NZD is not helped by the prospect of an interest rate cut from the Reserve Bank of New Zealand (RBZN) at their upcoming May 8 meeting. That will limit any potential bounce in the NZDUSD over the near term. We expect the pair to remain broadly under pressure, as we head into that meeting. There is little on the economic calendar from NZ this week so the focus will be on US data in the form of Durable Goods Orders and Advance GDP. The outlook for the US economy over the rest of the year is positive and a good GDP figure will help the USD advance further.

Exchange Rates
Current Level: 0.6653
Resistance: 0.6750
Support: 0.6600
Last Weeks Range: 0.6629-0.6748

A firmer USD and mixed Global Dairy auction results saw the NZD drift lower in overnight trading before retracing higher prior to the CPI data to the 0.6770 mark. The lower than expected Q1 CPI figure at 0.1%, year-on-year 1.5% against a forecast of 0.3% for the quarter and 1.75 y/y knocked the NZD sharply lower to 0.6681, as this data increases speculation of a RBNZ rate cut next month. In our view this is not yet warranted but be prepared for offshore markets to cut NZD positions.

Exchange Rates
Current Level: 0.6706
Resistance: 0.6780
Support: 0.6700
Last Weeks Range: 0.6712-0.6781

With a lack of significant economic data this week at home, the New Zealand Dollar (NZD) reached a high of 0.6775 on risk support as risk assets edged higher through Wednesday. US CPI m/m published at 0.4% from the 0.3% markets were expecting showing a rise on February figures of 0.2%. More importantly US jobs claims or the number of people filing for unemployment in March published at a 50 year low at 196,000 – the lowest reading since October 1969. This brought US Dollar strength back to the markets with most currencies giving up gains as the kiwi did with a stiff reversal back to 0.6720 levels midday Friday. NZ quarterly CPI prints on Wednesday followed by US Retail Sales Friday and Good Friday holiday.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6724
The interbank range this week has been: NZDUSD 0.6713- 0.6773

The New Zealand Dollar (NZD) struggled all week against the buoyant US Dollar (USD) dropping to 0.6720 after US Non-Farm Payroll released. US Jobs data printed solid results which show the US economy is sound – just. Unemployment remained the same at 3.8% and the number of employed people surprised markets coming in at 196,000 from 177,000 expected rebounding from poor February numbers. These figures will make the Fed happy they won’t need to shift policy for the next while and will keep a watchful, patient eye on how jobs growth develops. US CPI m/m prints Thursday along with a bunch of Fed speakers towards the end of the week. A key driver – FOMC meeting Minutes comes out Thursday morning. Technically the kiwi lost its bullish status when it recently travelled below 0.6800 below the 2019 trendline. Currently sitting at 0.6740 this is just above big support at 0.6720

Exchange Rates
Current Level: 0.6739
Resistance:0.6800
Support:0.6717
Last Weeks Range: 0.6718-0.6798

The New Zealand Dollar (NZD) dropped off the bat to 0.6738 after weak NZ Business confidence for the first quarter 2019 showed that businesses are more dispirited over 2019 economic prospects. The kiwi returned briefly to 0.6790 on another great global dairy auction (9th positive result in succession) but was unable to push ahead after risk sentiment shifted negative returning to 0.6750. The White House has signalled an end is nigh in the US/China trade disputes which has been rolling on for around a year now. High level negotiations have been in progress this week with Trump saying “it’s got to be a great deal”. US NFP- Non-Farm Payroll is now the focus early tomorrow morning with 175,000 new jobs expected to be added to the US workforce. Big support in the cross sits at 0.6700 we think this should hold for a while longer.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6754
The interbank range this week has been: NZDUSD 0.6837- 0.6738

The New Zealand Dollar (NZD) recovered slightly after last week’s dovish RBNZ statement when it bottomed out at 0.6733 against the US Dollar (USD), bouncing to 0.6840 Tuesday morning as risk sentiment improved. Equity markets pushed higher with the DOW, Nasdaq and S&P all going over 1% higher on the day. NZ Institute of Economic Research Business Confidence released lower than investors were predicting at -29 this morning with first quarter growth expected at 0.4% based on the RBNZ expecting 0.8%. The kiwi dropped from 0.6800 to 0.6775 on the release which has spurred the ASB bank to bring forward their outlook for a rate cut to May and August from August and November. Attention now turns to tonight’s Global Dairy Auction. Technically we expect the NZD to depreciate and retest support of 0.6750
Exchange Rates
Current Level: 0.6787
Resistance: 0.6870
Support: 0.6744
Last Weeks Range: 0.6774-0.6923

The RBNZ governor Orr sent the New Zealand Dollar (NZD) over 1 cent lower on Wednesday’s cash rate release. The NZD plummeted against the US Dollar to 0.6795 from 0.6912 after the RBNZ surprised markets with a shift from neutral policy to dovish with the Orr suggesting the next rate change will be lower mid to late this year we expect. ANZ business confidence for March was slightly under what analysts were expecting highlighting a view that the New Zealand economy is losing momentum. Fourth quarter US GDP came in at 2.2% down on the 2.4% expected with growth likely to be forecast lower fuelling further talk of possible Fed rate cuts. Technically the cross has broken below the bullish 2019 trendline this week, expect a further pullback in NZD.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6780
The interbank range this week has been: NZDUSD 0.6773- 0.6924

The New Zealand (NZD) and other risk associated currencies have tracked higher off the weekly open against the US Dollar (USD) to 0.6910 currently. After President Trump was cleared of his Russian collusion investigation sentiment improved. Time now we expect will be spent on further cementing a proper US/China trade deal, the timing couldn’t be better for the president, he may hold a tougher stance in trade discussions as he now isn’t as desperate for a policy win. Tomorrow’s RBNZ cash rate announcement will hold local interest with the rate expected to remain unchanged at 1.75% for a while longer – Adrian Ore’s policy may be tweaked based on recent economic data, we expect a dovish stance. Price is inching towards the yearly high of 0.6940 and may get there if RBNZ allows.

Exchange Rates
Current Level: 0.6916
Resistance: 0.7000
Support:0.6860
Last Weeks Range: 0.6827-0.6938

The New Zealand Dollar (NZD) meandered around 0.6850 against the US Dollar (USD) until Thursday’s Fed cash rate announcement rallied the currency to 0.6940. The Fed left their overnight rate at 2.50% but Powell gave a dovish speech suggesting no further hikes this year with prospects that a cut could be on the cards late 2019 or early 2020. Markets bought more NZD four hours later when NZ quarterly GDP printed at 0.6% – markets were pricing in a lower figure. Price turned lower at resistance above 0.6940 with the kiwi giving back most of the gains overnight, after uncertainty over US-China trade put an end to the kiwi run. Currently we are trading at 0.6880 with a RBNZ rate review firmly now in focus next Wednesday.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6885
The interbank range this week has been: NZDUSD 0.6827- 0.6938

A lack of data last week on the New Zealand Dollar (NZD) calendar has seen the currency push higher on general US Dollar (USD) weakness to 0.6875, before easing back slightly. We will see more Fed policy speak Thursday when Fed chairman Powell leaves the federal funds rate at 2.50% and talks about a cautious approach to raising rates, pointing to the govt shutdown and financial market uncertainty as the reasons for possibly not hiking again in 2019. NZ quarterly GDP is expected to come in at 0.6% on Thursday’s reading and should bring a rise from the December quarter’s 0.3%. The kiwi looks capped at 0.6900 with risks skewed to the downside.

Exchange Rates
Current Level: 0.6845
Resistance: 0.6910
Support: 0.6800
Last Weeks Range: 0.6808-0.6873

The New Zealand Dollar (NZD) reached a high this week of 0.6872 in a continuation of last week US Dollar (USD) broad weakness, stemming from disheartening NFP figures not to mention a dovish slant from Fed chair Powell. Dips are well supported ahead of 0.6700 with a view to further upside. Only a break to the downside below 0.6500 would put further focus on the multi month low from October 2018 of 0.6420. A push through 0.6900 would cement any constructive NZ economic outlook. Next week we have Westpac consumer sentiment, current account and quarterly GDP along with the all important federal Funds Cash rate which is due to remain unchanged at 2.50%

Exchange Rates
The current interbank midrate is: NZDUSD 0.6834
The interbank range this week has been: NZDUSD 0.6787- 0.6872

The New Zealand Dollar (NZD) received a boost Friday after broad based declines in the US Dollar (USD) took the kiwi off the low of 0.6744 to close at 0.6800. This week the theme has continued with a mix of “risk on” sentiment based on Brexit positiveness before tomorrow’s vote and big dollar sellers. Fed chairman Powell said the Fed was in no hurry to change interest rates again and will watch how the slowing economy progresses. Brexit headlines will hold market focus over the remaining week, we suspect sentiment will change tomorrow and take the kiwi back below 0.6800.

Exchange Rates
Current Level: 0.6831
Resistance: 0.6900
Support: 0.6745
Last Weeks Range: 0.6745-0.6839

The New Zealand Dollar (NZD) had nothing on the economic docket this week allowing offshore influences to sway direction. The kiwi joined the Aussie bear party midweek as a terrible run of AUD data was published which helped dropped the kiwi to 0.6744 from its weekly opening price of 0.6820. After the ECB announced a downgrade to their 2019-2020 inflation and growth forecast markets turned risk averse putting added pressure on the NZD heading into (NFP) Non-Farm Payroll tonight. 0.6700 is the yearly low (except the 3 Jan drop) and looks solid for now.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6759
The interbank range this week has been: NZDUSD 0.6744- 0.6826

Risk sentiment improved over the weekend when positive comments came out of meetings between US negotiators and Chinese officials regarding a trade truce for now as Trump halted ramping up tariffs on 200 Billion worth of Chinese products. The New Zealand Dollar started the week well peaking at 0.6827 before easing back slightly after equity markets all printed down on the day. A very quiet week for the kiwi should see the currency pushed around a bit via offshore influences before (NFP) Non Farm Payroll prints later in the week. 185k is the number we are expecting to be added to the US workforce – can they go three positive months in a row which has not been done since January 2016. A number of Fed officials will take to the stage as well as the chairman Powell to discuss and review monetary policy. We think the kiwi could go higher this week following on with its recent series of higher lows and higher highs.

Exchange Rates
Current Level: 0.6819
Resistance: 0.6900
Support: 0.6770
Last Weeks Range: 0.6794-0.6901

The New Zealand Dollar drifted off its high of 0.6902 Wednesday against the US Dollar (USD) after risk sentiment deteriorated. Excitement over early week trade talks between China and the US disappeared as a potential negotiated deal was scaled back. NZ Trade Balance didn’t help reporting a deficit of 914 Million which turns out to be the largest deficit for a January month on record. ANZ Business confidence also showed a pessimistic view of business growth over the next year also offered no assistance to the kiwi dropping to 0.6800 Friday. Overnight US GDP jumped by 1 Trillion in 2018 as Trumps dream of 3% plus came true based on tax cuts and huge federal spending which acted as stimulus to the American economy. This release was delayed a month based on the US Govt shutdown. Fed chairman speaks tomorrow morning. The pair is trading at the bottom of a bullish channel and looks to push higher over coming days if economic data and risk allows.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6813
The interbank range this week has been: NZDUSD 0.6795- 0.6602

Monday prices extended last week’s New Zealand Dollar (NZD) rally against the US Dollar (USD) after positive news surfaced in recent Washington trade meetings. Late Friday sessions saw the NZD bottom out at 0.6755 and return through 0.6800 to close the week at 0.6840. Retail Sales printed well up on the expected 0.5% at 1.7% with the kiwi reaching a fresh high of 0.6900 before drifting back to 0.6880 Tuesday lunch. This week’s US Consumer confidence followed by ANZ Business confidence should move the price. Fed chairman Powell should reiterate the current monetary path on Friday prior to manufacturing data publishing. The NZD has a bit of work to get through before reaching the yearly high of 0.6945 area but if positive trade headlines continue who knows.

Exchange Rates
Current Level: 0.6882
Resistance: 0.6940
Support: 0.6775
Last Week’s Range: 0.6758-0.6901

The New Zealand Dollar (NZD) travelled lower in sympathy with yesterday’s terrible AUD performance depreciating 70 points or roughly 1.0% against the US Dollar (USD) to 0.6805. The Australian Coal import ban China has imposed has hit the kiwi nearly as hard as risk sentiment drives the NZD/USD to fresh lows. The kiwi looks well supported above the 0.6800 level ever since the RBNZ’s less than dovish view on the NZ economy last week. US Equities have closed the day half a percent lower as markets become nervous for results in the Washington trade talks between China and US officials taking place now. US Core durable goods figures were surprisingly down overnight when US made goods fell for the month of December showing a slowdown in business spending that could ultimately derail US growth. We see no need to panic yet for buyers of USD, remember we started out 2019 at 0.6650.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6803
The interbank range this week has been: NZDUSD 0.6796- 0.6893

The New Zealand Dollar (NZD) is over 1.60% stronger than the US Dollar (USD) to 0.6890 after US dollar broad weakness and RBNZ comments. The kiwi has benefited from positive risk sentiment after what looked to be a step in the right direction in Beijing as US and Chinese negotiators came closer to an agreement on tariffs. The deadline date of March 2nd when tariffs will go from 10% to 25% for the Chinese could possibly be moved out Trump has said. Thin Monday sessions have taken the kiwi off the high easing back to 0.6850. Zero data on the NZ calendar this week means the kiwi could be pushed along via offshore action, US Fed speakers will speak later in the week mainly on monetary policy.

Exchange Rates
Current Level: 0.6848
Resistance: 0.6890
Support: 0.6810
Last Weeks Range: 0.6718-0.6893

After the biggest single week’s move a week ago to a low of 0.6740, lowest since late October 2018, the New Zealand Dollar (NZD) has regained just about all its losses trading back to 0.6855 through this Friday. In a surprising turn of events the market got it so wrong when Adrian Orr stepped to the plate Wednesday and delivered a surprisingly LESS dovish picture of the NZ economy. The RBNZ left the cash rate unchanged at 1.75% but Orr wasn’t prepared just yet to downgrade the outlook like other central banks have done lately instead saying the economy was well balanced. We still think the next shuffle from the RBNZ will be down but this more than likely won’t happen until late 2020. US Retail Sales printed overnight with the data surprisingly poor at -1.2% compared to the 0.1% markets were predicting. This took a little risk out of the market taking the kiwi off its high. US Presidents Day holiday Monday will bring a slow start to the week.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6818
The interbank range this week has been: NZDUSD 0.6719- 0.6855

The New Zealand Dollar (NZD) is trading at a low of 0.6730 against the US Dollar (USD) as recent NZD stability has stalled over the past week. This week’s RBNZ statement on Wednesday is firmly the focus, we should see no change to the current 1.75% but the tone of Adrian Orr’s monetary statement will be dissected carefully by investors to confirm recent rhetoric around downside risks and how offshore trade related uncertainties will impact the Kiwi. US/ China trade talks will resume later this week in Beijing aimed at resolving the trade war as it continues to threaten global economic growth. Risk appetite will be key to any upside momentum in the kiwi.

Exchange Rates
Current level: 0.6730
Resistance:0.6800
Support: 0.6700
Last Week’s Range: 0.6726-0.6904

The US Dollar (USD) has outperformed the New Zealand Dollar (NZD) this week, midday Friday current the price sits around 0.6750 after opening the week at 0.6900. With mixed kiwi data and a risk off mood after equities were down over 1.5% the kiwi has failed to fire and build momentum from last week’s performance. NZ employment data numbers failed to impress, posting a 4.3% unemployment rate along with a poor wage growth reading. If wage inflation remains subdued the OCR could go lower later in the year from the current 1.75%. Next week we have the RBNZ cash rate and statement which will remain unchanged for now along with some key US data releases, significantly monthly CPI.

Exchange Rates
The current interbank midrate is: NZDUSD 0.6738
The interbank range this week has been: NZDUSD 0.6734- 0.6905

View NZDUSD charts

The New Zealand Dollar (NZD) has recovered well from early January 0.6600 levels reaching a high Friday against the US Dollar (USD) of 0.6940. Buoyed by better than expected US Non-Farm Payroll figures the kiwi eased lower to close around 0.6900. As opposed to the normal geopolitical issues at play at the moment we have a fair share of economic releases to move prices. US ISM Manufacturing tomorrow followed by NZ employment figures will be the key movers with Fed chairman Powell speaking as well later in the week. Technically the pair looks to go higher and follow the recent theme of higher highs and higher lows through the yearly high of 0.6940. Certainly if Powell is hawkish in his speech though, a little downside bias could be expected.

Exchange Rates
Current Level: 0.6870
Resistance: 0.6930
Support: 0.6830
Last Weeks Range: 0.6821-0.6941

The NZD continues to hold in the higher levels made last week and looks comfortable over the 0.6800 level against the Greenback. Resistance is up at 0.6870 and we still see potential for a test of this level but after Fed rate announcement later tonight. Look for trading around the current 0.6820/30 area ahead of the Fed.

Exchange Rates
Current Level: 0.6826
Resistance: 0.6870
Support: 0.6805
Last Weeks Range: 0.6705-0.6844

View NZDUSD charts

The NZD continues to show resilience looking solid at levels above 0.6750, currently sitting at 0.6760 and driven by offshore moves, any further US weakness could immediate resistance at 0.6800 over the next day or so.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6758
The interbank range this week has been:NZDUSD 0.6706- 0.6806

View NZDUSD charts

The NZD continues to drift lower on concerns around trade and the strength of the Chinese economy given the softer GDP data. Direction is still mainly driven from offshore, but tomorrow’s CPI data has potential to provide local input…unless an outlier figure, support at 0.6630 should hold, with upside unlikely to be threatened in the current more risk off-sentiment.

Exchange Rates

Current Level: 0.6730
Resistance: 0.6850
Support: 0.6700
Last Weeks Range:0.6720-0.6848

View NZDUSD charts

The New Zealand Dollar (NZD) remained under pressure most of the week against the US Dollar in a series of weaker highs and weaker lows dropping to 0.6730 Thursday. Focus now is on next week’s CPI quarterly announcement which is set to be benign and highlight the growing consensus of a cash rate hike cut later this year. Friday morning we have rumours circulating that US officials are debating ratcheting back the tariffs on Chinese imports in a way to calm markets and give China an incentive to make deeper concessions in the trade war which has spooked global markets for months. The aim is to gain support from the Chinese so long term reforms can be agreed. The New Zealand Dollar (NZD) has rallied on risk sentiment from 0.6740 to 0.6785 but as news broke that the US Treasury has made no recommendations made on tariffs the price lower retracing back to 0.6760

Exchange Rates

The current interbank midrate is:NZDUSD 0.6758
The interbank range this week has been:NZDUSD 0.6723- 0.6848

View NZDUSD charts

The New Zealand Dollar (NZD) has continued its bullish theme from the 3rd of January Lows travelling back above 0.6760 resistance to 0.6825 Tuesday morning. In the face of lower equity values and a general pessimistic global economic outlook the kiwi has held up very well – but for how long? With the Fed now confirming they will hold a wait and see approach to continuing their hiking program the NZD could go higher and retrace to early December prices around 0.7000. President Trump will be biggest driver of currency over the next while with US/China trade and the Govt shutdown in its 24th day affecting market mood and uncertainty. The GDT releases tonight and should reflect a second straight positive number for farmers.

Exchange Rates
Current Level: 0.6830
Resistance: 0.6800
Support: 0.6800
Last Week’s Range: 0.6707-0.6843

View NZDUSD charts

The New Zealand Dollar (NZD) continued its bearish momentum from the high of 0.6966 from the 4th of December through into 2019 falling to 0.6650 on the 3rd of January. Around midday Thursday in thin markets we saw the NZD plunge into freefall in what has been called a “flash crash” as investors became risk averse selling any risk associated asset. We saw damage across the board with the kiwi down at 0.6550 for a short period recovering just as quick back to 0.6640 and closing the week at 0.6740 after risk improved on Fed Powell talk. Price action this week has been muted as the US Govt remains in shutdown as they head into the 19th day. Trump holds a press conference later today where he will discuss an unlikely “state of emergency” but most likely terms of negotiations with the democrats to determine who pays for his Mexico border wall. We are picking risk to come under pressure for the rest of the week and a continuation of the bearish trend down to 0.6600 levels.

Exchange Rates
Current Level: 0.6743
Resistance: 0.6766
Support: 0.6707
Last Week’s Range: 0.6570-0.6766

View NZDUSD charts

The New Zealand Dollar (NZD) reached a high Wednesday of 0.6880 against the US Dollar (USD) but stalled on bad NZ data. NZ GDP fall to 0.3% from the 0.6% markets were predicting taking the kiwi to 0.6760 on the result. Risk off has been a heavy driver of price action over the week as the global growth outlook was questioned in the FOMC statement Thursday. The Federal Reserve hiked the benchmark rate from 2.25% to 2.50% suggesting the hiking program next year would be reset to just two hikes instead of the expected from the September meeting. US equity indices are down over 1.5% on the day and roughly 10% for the month cleary causing all kinds or concerns and vulnerability to currencies as the global outlook is now in question. The cross slipped to 0.6725 before retracing back to 0.6770 Friday.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6784
The interbank range this week has been:NZDUSD 0.6880- 0.6725

View NZDUSD charts

The New Zealand dollar (NZD) has lost ground against the United States dollar (USD) this week, with most of the weakness coming in a sharp burst of activity on Friday morning. Soft US equities and broad risk off tone have weighed on the local currency pressuring it to a low of 0.6777 so far. For now, the risks remain skewed to the downside and we may see the NZDUSD test support around the 0.6720 area over the coming days. The key to direction over the Christmas period will likely come from a couple of important releases on Thursday morning. First up is the US Fed interest rate decision, and then a few hour later we get New Zealand GDP data.

Exchange Rates
Current Level: 0.6804
Resistance: 0.6900
Support: 0.6780
Last week’s Range: 0.6777-0.6901

View NZDUSD charts

The New Zealand Dollar (NZD) consolidated around the 0.6880 area this week against the US Dollar (USD) after failing to break the 0.6900 level. Risk themes improved based on the China/ US trade relationship improving this week with China buying up 500,000 tons of US soybean as they said they would. The kiwi remains strong among rival currencies, we suspect a continuation of the recent bullish run from 0.6470 will continue until we see a fundamental shift in NZ economic fortunes create a shift in sentiment and ultimately an unstable NZD. US Retail Sales publish tomorrow morning and could add volatility to close the week.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6842
The interbank range this week has been:NZDUSD 0.6825- 0.6911

View NZDUSD charts

The New Zealand Dollar (NZD) has made a good start to the week against the US Dollar (USD) after retracing off its low of 0.6840 Monday. A mild risk on theme saw the kiwi improve to 0.6900 early Tuesday with equities closing in the black after being down for most of the Monday sessions. We expect the NZD may struggle to push higher in this environment but it’s been reasonably resilient. Non Farm payroll numbers disappointed coming in at 155,000 instead of the 200,000 sending markets lower and putting USD on notice. US Core CPI and Retail Sales print later in the week. We suggest a retest of 0.6900 levels if risk improves.

Exchange Rates
Current Level: 0.6881
Resistance: 0.6871
Support: 0.6835
Last week’s Range: 0.6844-0.6970

View NZDUSD charts

The New Zealand Dollar (NZD) has been the strongest performer across the board this week, but against the greenback it has lost half a cent from the open easing to 0.6880 Friday. Risk sentiment diminished over the week fuelled by geopolitical tensions threatening the China and US trade truce agreed last weekend. Thursday’s ADP US payroll numbers released down on expectations at 179,000 a precursor to tonight’s Non Farm Payroll figures, moving the pair off the low of 0.6856 to 0.6880 Friday. Currency markets will be mainly subdued leading into the (NFP) non Farm Payroll figures tomorrow morning. US unemployment also prints and is expected to remain around at the 3.7% mark. If the NFP figure disappoints the market with a soft outcome, it’s not hard to see the NZD knocking on the door of 0.7000 next week. That being said, no one knows just where the data will print and all we can be sure of is that there is good potential for volatility.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6876
The interbank range this week has been:NZDUSD 0.6968- 0.6856

View NZDUSD charts

The New Zealand Dollar (NZD) traded to a late June 2019 level of 0.6885 against the US Dollar (USD) this week amid dovish Fed speak and risk on sentiment. Jerome Powell backed up recent speculation he was going to normalise fed policy soon, 2019 may only bring one hike instead of several as markets were expecting. The pair has since consolidated around 0.6860 levels as investors and market speculators set themselves for G20 action starting tonight. Levels above 0.6850 look lofty on the charts but if we follow recent momentum from the 0.6445 recent bottom one can’t deny the kiwi is building support to make a surge for 0.7000. These are levels we thought we would not see again for some time but with Fed changing their stance anything is possible.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6859
The interbank range this week has been:NZDUSD 0.6754- 0.6886

View NZDUSD charts

The New Zealand Dollar (NZD) started the week upbeat compared to the US Dollar (USD) after US equities jumped. The US Dollar across the board was put under pressure and Crude oil climbed to 51.50 off last week’s lows. NZ Retail Sales printed down at 0.0% after expectation of 1.0% failed to impress markets. We see price action softening further and a retest of 0.6700 possible if geopolitical uncertainties surface. We have a slew of economic data to print over the remaining week with Fed member Bostic speaking tomorrow as well as RBNZ Adrian Orr over the Financial stability report. The G20 in Argentina starts Friday and will almost certainly if not already create risk off sentiment.

Exchange Rates
Current Level: 0.6767
Resistance: 0.6880
Support: 0.6700
Last week’s Range: 0.6754-0.6872

View NZDUSD charts

The New Zealand Dollar (NZD) has eased lower this week in a series of lower lows and lower highs against the US Dollar (USD) trading as low as 0.6780 before risk conditions improved recovering to 0.6810 Friday. US Housing data printed bang on expectation but Core durable goods released lower at -4.4% from -2.2% depreciating the big dollar Thursday. Equity markets have had a mixed week with US indices trading just off yearly lows, the Nasdaq helping to restore risk sentiment last night recovering up 1.0%. US Thanksgiving holiday Thursday made for volatile conditions with a lack of trading volume. The pair should close the week around the current level of 0.6800. Next week’s economic docket will be busy with a bunch of tier one releases, the G20 meeting starts Thursday in Argentina.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6805
The interbank range this week has been:NZDUSD 0.6780- 0.6872

View NZDUSD charts

The New Zealand Dollar (NZD) rallied to 0.6880 against the greenback during Friday’s NY session where it closed the week. Markets changed mood Monday after comments from Vice President Pence spooked risk appetite with detrimental US/ China trade tariff speak. He seemed to undermine recent calls by the president that a tariff agreement was close to being negotiated and completed. The cross dropped back to 0.6815 pushing higher to 0.6840 at Tuesday Lunch. The kiwi will be driven this week by risk mood and US data with Core Durable goods and housing data to print tomorrow. The bullish channel still holds from the low of 0.6420 but we expect the kiwi to ease back towards 0.6700 support this week.

Exchange Rates
Current Level: 0.6840
Resistance: 0.6880
Support: 0.6820
Last Week’s Range: 0.6707-0.6883

View NZDUSD charts

The New Zealand Dollar (NZD) kicked off the week with a lack of direction against the US Dollar (USD) but soon got into its groove passing 0.6750, the first level of topside resistance posting a high of 0.6840, the weekly high. Brexit related headlines have occupied market interest, the main driver this week. At these elevated levels we suggest 0.6850 will be tough to pierce. US Retail Sales printed higher than expectation at 0.8% from 0.6% markets were expecting, ironically not making a dent in the rally. Fed chairman Powell gave a hawkish bias on current policy midweek taking equity markets off weekly lows and buoying the kiwi. Buying USD at these levels may not last.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6832
The interbank range this week has been:NZDUSD 0.6706- 0.6839

View NZDUSD charts

Late Friday the New Zealand Dollar (NZD) climbed to a four month high of 0.6817 against the US Dollar (USD) before easing back to close the week around the 0.6740 area. Equity markets have declined over 2% Monday night, the Nasdaq falling 2.81% with Industrial metals leading the way south. Crude Oil has broken support at 60.00 this morning also dropping to 58.84, the US President taking the blame, when he said recently that his policies have caused the decline. US CPI and Retail Sales are the key releases this week with Fed chair Powell speaking later in the week. The kiwi will be largely pushed around this week by risk associated events, with downside probability more likely and a retest of support at 0.6690 levels.

Exchange Rates
Current Level: 0.6715
Resistance: 0.6820
Support: 0.6690
Last Week’s Range: 0.6646-0.6796

View NZDUSD charts

The New Zealand Dollar (NZD) has surged to a new cycle high against the US Dollar (USD) of 0.6818 in the aftermath of a heavy data week. NZ employment data surprised markets early on when the unemployment figure dropped from 4.4% to 3.9% taking the kiwi nearly a cent higher. US midterm elections created uncertainty while voting was in progress, but after the republicans confirmed control of the senate risk returned to markets with equities trading higher. The RBNZ kept rates unchanged as expected, Adrian Orr reiterating that we would see no change to policy until well into 2019-2020. The Fed also kept their cash rate unchanged as expected at 2.25% remaining hawkish on future rate hikes describing the economy and labour market as strong. The kiwi is holding onto the level around 0.6760 Friday but looks to ease back lower as profit taking takes place towards the close of the week. Buyers of USD should consider current prices over 0.6700 with further momentum in USD to continue once election results are digested by markets.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6757
The interbank range this week has been:NZDUSD 0.6633- 0.6796

View NZDUSD charts

The New Zealand Dollar (NZD) held its ground late Friday reaching a high of 0.6685 against the US Dollar (USD) after Non Farm Payroll numbers printed. The US Labour dept showed employment increased by a massive 250,000 jobs in October well in front of the 194,000 expected. Chinese data Monday helped the kiwi push higher back through 0.6660 but any upside from here looks to be capped below 0.6700. Tomorrow’s employment figures could pressure the kiwi if we fail to see a drop in the unemployment rate of 4.5%. Thursday’s RBNZ cash rate and monetary statement shouldn’t offer up any surprises with markets keen to see the overall tone of future policy.

Exchange Rates
Current level: 0.6660
Resistance: 0.6700
Support: 0.6600
Last Week’s Range:  0.6515

View NZDUSD charts

The New Zealand Dollar (NZD) surged back to 0.6650 against the big Dollar amid risk on market sentiment. A combination of Chinese data along with US equities up over 1% overnight saw risk return for correlated currencies. Australian Trade Balance printed Thursday well above expectations with kiwi going along for the ride reaching the September 27 high. US ISM Manufacturing printed below expectations putting pressure on the US Dollar during the NY session Thursday. ADP employment numbers came in at 227,000 higher than the expected 188,000 showing an early look at employment data leading into Non-Farm Payroll figures tonight. Next week we have RBNZ cash rate announcement with no change of 1.75% expected. If risk continues we could see a higher kiwi perhaps a retest of 0.6700 and a break higher from the long term bearish channel held since 0.7400. Buyers of USD should consider these levels based on price sitting at the top of the weekly spike.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6661
The interbank range this week has been:NZDUSD 0.6465 – 0.6666

View NZDUSD charts

The New Zealand Dollar (NZD) traded from 0.6600 levels from last week’s open down to 0.6470 Friday against the US Dollar (USD) based on risk averse markets conditions. US Equity markets closed over 5% lower creating a nervous reaction from investors exiting risks associated currencies. The kiwi recovered late during the NY session and continued its push Monday to 0.6555. US Manufacturing and the all important Non- Farm Payroll numbers print Friday with 190,000 people expected to be added to the workforce in October. Price action will dictated by global developments. End of Month off balance sheet tweaking of currency exposures could see the kiwi fall back towards 0.6470 along with other factors.

Exchange Rates
Current Level: 0.6530
Resistance: 0.6600
Support: 0.6465
Last Week’s Range: 0.6465-0.6569

View NZDUSD charts

The New Zealand Dollar (NZD) was rejected from last week’s high of 0.6600 to travel lower against the US Dollar (USD) amid a risk off tone. As we commented in earlier commentary a spike higher would more than likely be met with prices resuming downward pressure based on the continuation of the bearish channel and general risk aversion which is what happened. The NZD has defied the general risk off mood with equities dropping below Jan 2018 lows as we believe it should be trading a lot lower if we look at historical price movement and the unprecedented moves in global equities. Friday saw equity prices on the improve and the kiwi followed pushing up to 0.6525. Next week we have a fairly chocka data calendar ending with Non-Farm Payroll so we should see plenty of swings.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6515
The interbank range this week has been:NZDUSD 0.6503 – 0.6619

View NZDUSD charts

The New Zealand dollar (NZD) spent the first half of the week recovering against the United States dollar (USD), helped by stronger than forecast NZ inflation data on Tuesday. That recovery stalled however ahead of a key resistance area around 0.6600. With the NZD’s failure to gain a foothold above 0.6600, after repeated attempts on Tuesday and Wednesday, the sellers returned and in the past 24 hours the pair has been back down to 0.6534. The broader long-term downtrend, that has been in place since mid-April remains intact at this stage and it looks like it’s starting to reassert itself. It would take a sustained move above 0.6600 to bring that into question. The one thing in the Kiwi’s favour is the fact that speculative positioning is extremely short at the moment. That leaves open the potential for a nasty short squeeze at some stage. I would suggest a sustained move over 0.6600 could well trigger a wave of short covering and we could easily see a sharp move toward 0.6700. We would need a trigger of some sort for that to happen and at this stage it’s not clear what that may be, but the risk is certainly there. We’re still looking for levels sub 0.6400 by the end of this year, so if we do happen to get a short squeeze toward 0.6700, it would represent a great selling opportunity.

Exchange Rates

The current interbank midrate is:NZDUSD 0.653
The interbank range this week has been:NZDUSD 0.6492 – 0.6601

View NZDUSD charts

CPI figures published well up on expectations this morning pushing the New Zealand Dollar (NZD) higher to 0.6595 vs the US Dollar (USD). Quarterly CPI printed at 0.9% beating market forecasts of 0.7%, year on year CPI is now at 1.9% the fastest growth for inflation since the third quarter of 2017. Talk of the RBNZ lowering the cash rate would surely be quashed with Adrian Orr and the RBNZ to meet on November 7th to discuss future policy. US Retail Sales for September printed at 0.1% well down on the 0.7% figure markets were expecting, the figure skewed based on a lack of restaurant takings because of the impact of Hurricane Florence. Offshore risk is still creating most of the direction in markets with the kiwi still trading in a bearish channel from mid-April, buyers of USD should look at this spike as prices above 0.6500 represent better buying.

Exchange Rates
Current Level: 0.6575
Resistance: 0.6600
Support: 0.6330
Last Week’s Range: 0.6428-0.6594

View NZDUSD charts

Coming off 2.5 year lows against the US Dollar (USD) the New Zealand Dollar (NZD) has been extremely resilient this week in the face of heavy falls in equity markets. US Equities the DOW, Nasdaq and S&P have all dropped over 5-6% in the last two days of trading suggesting a large correction not only in the US but globally could be have kicked off. As we have said US Treasury yields as high as they are (this week 3.26%) should have stemmed recent rises in equities months ago. The kiwi received a boost when US CPI numbers disappointed posting a weekly high of 0.6530 where it trades now. Buyers of USD should consider this spike before downward momentum resumes in line with the bearish channel in play from April this year.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6529
The interbank range this week has been:NZDUSD 0.6425 – 0.6533

View NZDUSD charts

The New Zealand Dollar (NZD) is coming off a week which saw it reach fresh cycle lows against the surging US Dollar (USD). Starting the week around 0.6600 is sank to 0.6440 a 2.5 year low. Recently the NZD has been driven mainly off broader global macro themes soaking up additional downside pressure accounting for relative underperformance. Local economic data has been unimpressive with the NZD let down by softer global dairy auction results and Institute of Economic Research Business Confidence results which highlighted distressing weaker earnings. Looking ahead we have US monthly CPI figures the main data of the week. Sellers of US Dollars should be selling on spikes lower, certainly under 0.6500 reads attractive prices.

Exchange Rates
Current Level: 0.6445
Resistance: 0.6500
Support: 0.6420
Last Week’s Range: 0.6425-0.6611

View NZDUSD charts

This week’s local data and offshore economic data particularly in the US have seen the New Zealand Dollar (NZD) retreat through support levels against the US Dollar (USD). We started the week almost at a respectable 0.6630 but with NZIER business sentiment down and overall USD strength we have seen the kiwi travel to a fresh low of 0.6470. US ADP published well above market expectations boosting the US Dollar across the board and offers an insight of Non-Farm Payroll tomorrow morning. Markets seem to have possibly already priced in a favorable result above the 185,000 expected.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6479
The interbank range this week has been:NZDUSD 0.6474- 0.6639

View NZDUSD charts

The New Zealand Dollar (NZD) has reacted to the NZ Institute of Business Confidence this morning and taken the currency to fresh near term low against the US Dollar (USD). Travelling below 0.6600 to 0.6590 the cross look vulnerable for further downside. Continuing its bearish decline from 0.7400 we think a retest this week of the low of 0.6500 could be reachable. Economic headlines of note this week is the US Non-Farm Payroll numbers leading with the ADP figures tomorrow night. Comments recently from the RBNZ suggested no change in the OCR rate would eventuate until 2019/2020 but ANZ have suggested the next cut could be down. If this is the case, we may see the NZD under further pressures significantly undermining the forecasted cycle low.

Exchange Rates
Current Level: 0.6602
Resistance: 0.6590
Support: 0.6700
Last Week’s Range: 0.6594 – 0.6691

View NZDUSD charts

Initially a better than expected ANZ business confidence report sent the New Zealand Dollar higher versus the US Dollar (USD) to 0.6680 before drifting lower. The RBNZ cash rate announcement showed a less than dovish tone by governor Adrian Orr spiking the kiwi back to nearly top out at 0.6700. This level was not supported again dropping lower to trade just above the 0.6600 area after the US Fed monetary statement released stating they would be increasing the cash rate by a further 0.25% this year. Comments by the RBNZ were fairly typical with policy to remain expansionary for a period of time, well into 0.2019-2020. Ongoing trade tensions were mentioned and will have a detrimental effect on the NZD over the long term. Buyers of USD should continue to buy on spikes.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6612
The interbank range this week has been:NZDUSD 0.6609- 0.6699

View NZDUSD charts

The New Zealand dollar (NZD) opens the week with a softer tone currently at the 0.6650 level, look for sideways trading ahead of Thursday’s Fed result and the RBNZ rate decision. Tomorrow will see Business confidence data and given the larger than expected GDP figure last week interest will focus on whether this reflected in the confidence data, we suspect not and look for a weaker result. Current ranges should hold but we continue to favour NZD downside and a test of 0.6600 over the next few days.

Exchange Rates
Current Level: 0.6643
Resistance: 0.6720
Support: 0.6630
Last Week’s Range: 0.6567 – 0.6699

View NZDUSD charts

The New Zealand dollar has ended the week on a firm note, buoyed by much better than expected GDP figures, a softer USD and a return to risk assets. It hit a high of 0.6692 against the USD overnight and is currently around 0.6687. It’s hard to see a substantive break above 0.6700 ahead of the Fed rate meeting next week. Given the continued solid US data we favour the USD and with another Fed rate hike in the wings look for a move back to the 0.6500 level over the next week or so.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6684
The interbank range this week has been:NZDUSD 0.6539 – 0.6693

View NZDUSD charts

The New Zealand Dollar (NZD) has started the week well gaining against the US Dollar (USD) to 0.6600. The week holds little in store in terms of economic headlines only Crude Oil Inventories and NZD second quarter GDP to get excited about. The highly awaited Trump tariff announcement became a reality Tuesday mid morning when he announced an additional 200 Billion worth of tariffs on Chinese products and he would raise this with another 267 Billion early in 2019 if China retaliated, also the initial 10% would become 25% to make matters worse for the Chinese. The pair sold off from its high of 0.6600 dropping down to 0.6560 as risk sentiment took over. If risk markets continue into next week topside will be limited with the possibility we could see 0.6500 retested.

Exchange Rates
Current Level: 0.6575
Resistance: 0.6600
Support: 0.6540
Last Week’s Range: 0.6502 – 0.6596

View NZDUSD charts

The New Zealand Dollar (NZD) faded to 0.6500 against the US Dollar (USD) midweek but recovered on US unfavourable data. Producer price Index dropped to -.01% from 0.2% unexpectedly in August representing the first actual drop in over a year. US CPI also disappointed at 0.1% from 0.2% markets were expecting, putting pressure on the US Dollar (USD). The kiwi rallied off the low to post 0.6590 breaking loose from the downside momentum of late August. US Retail Sales is due tonight, will we see a treble this week for weak US data and the kiwi retest 0.6610?. If the US president can hold off speaking to the media which includes tweeting we may see the kiwi squeeze a little higher. Certainly buyers of USD should consider this spike above 0.6550 before the down trend possibly continues.

Exchange Rates
The current interbank midrate is:NZDUSD 0.6578
The interbank range this week has been:NZDUSD 0.6502 – 0.6590

View NZDUSD charts

The New Zealand Dollar (NZD) is trading at fresh low of 0.6515 versus the US Dollar (USD). Lower lows and lower highs has been the theme from the high of 0.7370 back in April this year. US strength supported by solid economic data has seen the US Dollar trade as one of the strongest currencies. US Non Farm Payroll numbers printed up at 201,000 compared to 191,000 expected pushing investors into the greenback. Trading around the January 2016 levels the kiwi’s next level of interest is 0.6350 of late September 2015. No-where do we see any economic print to suggest economists and experts are expecting the kiwi to dive in the 0.50’s. Most market makers expect further declines in the pair as the US economy improves with rate hikes and the like. We think somewhere in the 0.62’s could be a bottom in this current cycle.

Exchange Rates
Current Level: 0.6523
Resistance:0.6615
Support: 0.6510
Last Week’s Range: 0.6513 – 0.6615

View NZDUSD charts

We have seen broad based USD strength this week supported by solid US economic data, although it hasn’t all been one-way traffic. The appreciating USD briefly drove the New Zealand dollar (NZD) down to the lowest level since Jan 2016 when it traded at 0.6530 on Wednesday, but the local currency quickly recovered backup over 0.6600, before the corrective rally ran out of steam. With the strength of the US economy and further US Fed interest rate hikes almost a certainty, we continue to view any periods of NZDUSD strength a good selling opportunity. Tonight’s key US employment data will draw significant attention as always, with particular interest paid to the wages component. It may not happen this month, but it seems likely at some stage we will start to see a surge in Average Hourly Earnings and that will almost certainly translate into an even stronger USD.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6590
The interbank range this week has been:NZDUSD 0.6530 – 0.6661

View NZDUSD charts

The New Zealand dollar (NZD) saw relentless pressure last week driven lower by declining business confidence and global trade tensions. NZ terms of trade data yesterday didn’t help coming in softer than forecast and in the wake of that release the NZDUSD has traded down below 0.6600. For the time being the focus remains firmly on the downside and the potential to retest the mid-August low of 0.6546. Looking further out we would not be surprised to see the NZDUSD trading between 0.6200 and 0.6400 toward the end of this year. Tonight we have a Global Dairy Trade auction to digest, then later in the week key US employment data is set for release.

Exchange Rates
Current Level: 0.6604
Resistance: 0.6720
Support: 0.6546
Last Week’s Range 0.6594 – 0.6726

View NZDUSD charts

Markets started the week on a risk positive note with a deal done between Mexico and USA boosting investors to buy risk associated products such as the kiwi. The kiwi (NZD) US Dollar (USD) cross reached 0.6730 early in the week but any further upside was meet with market anxiety on Thursday. ANZ Business Confidence released 5 points lighter than the expected -44.9 taking the New Zealand Dollar off the highs down to 0.6630 Friday. Closed door negotiations are still ongoing with US and Canadian trade experts but markets are nervous the agreement won’t be completed before today’s deadline. We have a US Bank Holiday Monday and monthly crucial Non-Farm Payroll numbers printing Friday.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6648
The interbank range this week has been:NZDUSD 0.6634- 0.6726

View NZDUSD charts

A game of two halves this week in the New Zealand Dollar (NZD), US Dollar (USD) pair with the currency reaching 0.6720 before retracing lower to 0.6620 Friday. US strength took over markets Thursday with ongoing trade war scenarios apparently edging towards Trump’s way. Trump believes he can win a war with China over the next couple of days with the two countries officials’ meeting. The New Zealand Dollar is still caught in a long term bearish channel from the high of 0.7400 and we expect the kiwi to taper off further as fundamentals in the US, including rate announcements, drive the US Dollar higher on demand. Buyers of US Dollars should consider the current political uncertainties and how they will impact risk sentiment going forward as we could see a weaker NZD develop if issues don’t pan out as expected. Buy on spikes above 0.6600.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6635
The interbank range this week has been:NZDUSD 0.6588- 0.6716

View NZDUSD charts

The New Zealand Dollar (NZD) traveled higher Tuesday against the US Dollar (USD) after President Trump  made comment that he was not “thrilled” by the raising of interest rates. He was making reference to Jerome Powell’s view of raising interest rates this year. The kiwi started the week at 0.6630 and drifted lower Mondaybefore spiking to 0.6650 in risk off market conditions. In 2016 Powell agreed when taking on the job as Fed chairman that he would support “cheap money” but has embraced the prospects of raising cash rates to combat a fast growing US economy, upsetting the President. Powell’s job is safe as he has another 3 years to run on his term and cannot be replaced by an angry President. The New Zealand Dollar is still caught in a long term bearish channel from the high of 0.7400 and we expect the kiwi to taper off further as fundamentals in the US including rate announcements drive the US Dollar higher on demand. This week sees NZ Retail Sales Thursday which is expected to print well and boost the kiwi. For now the kiwi will take every positive market risk sentiment it can get, we suggest buying the US on spikes like the one in place currently.

Exchange Rates
Current Level: 0.6648
Resistance: 0.6600
Support: 0.6550
Last Week’s Range: 0.6545 – 0.6656

View NZDUSD charts

The New Zealand Dollar (NZD) has continued to weaken, drifting through the previous bottom of 0.6573, the low of March 2016, against the US Dollar (USD). Through most of this week risk sentiment has favored the greenback as markets have digested updates in Turkey. Reaching a low of 0.6544 we go all the way back to January 2016 to compare levels. With a lack of local NZ data to publish this week, the kiwi has been at the mercy of offshore markets and US based economic data. US Retail Sales printed at 0.5% from the 0.1% markets were expecting showing very good news for the US economy going forward and increasing the chances of two more rate hikes in 2018 for the Federal Reserve. Next week on the radar we have pivotal NZ economic news with NZ Retail Sales Wednesday. Fed Minutes Thursday along with the Economic Symposium in Jackson Hole Wyoming, should create added volatility late in the week.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6597
The interbank range this week has been:NZDUSD 0.6545 – 0.6618

View NZDUSD charts

Midday Friday in the previous commentary we were talking about a possible break below 0.6600 in the New Zealand Dollar (NZD), US Dollar (USD) pair. The kiwi broke below this mark and sits at a March 2016 low of 0.6573 Tuesday. A perfect storm scenario is still in play with the Turkish currency crisis boosting the safe haven US Dollar (USD) and the dovish RBNZ central bank creating further downward momentum for the NZD. Although markets await further economic data flows to gauge further direction, the US Dollar has slowed a tad but price action still looks weak. A lack of local economic data releasing this week, the kiwi will be at the mercy of US based economic publications such as Retail Sales and Building permits. Risk markets could re-enter currency markets at any point with geopolitical issues unresolved so expect further sentiment to play out.

Exchange Rates
Current Level: 0.6585
Resistance: 0.6760
Support: 0.6566
Last Week’s Range: 0.6559 -0.6764

View NZDUSD charts

Down down down goes the New Zealand Dollar (NZD). The kiwi has been the beneficiary of a dovish RBNZ statement yesterday with Adrian Orr leaving the rate unchanged at 1.75%. His comments spooked markets after he said its possible the benchmark rate may need to be adjusted lower if growth and wages are not favourable going forward. The kiwi has been “double teamed’” with support lying with investors generally buying the US Dollar (USD) over the week. Price has made a huge break below several recent support levels such as 0.6685 leaving the pair vulnerable to further losses below the current 0.6601 the March 2016 level. We may get a near term rebound higher today with investors and market makers squaring up short positions to close weekly positions. US quarterly CPI releases later today and should offer plenty of volatility. Buyers of USD should consider at these levels with further declines in the kiwi expected.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6602
The interbank range this week has been:NZDUSD 0.6594- 0.6765

View NZDUSD charts

The New Zealand Dollar (NZD) is trading just off its lows at 0.6730 midday Tuesday after starting the week at 0.6745. Briefly after US Non-Farm Payroll released Friday the cross spiked to 0.6765 but this short bullish move wasn’t to last. We have the crucial RBNZ cash rate announcement to release Thursday with Adrian Orr likely to keep the rate on hold at 1.75% for a while longer. The review will hopefully hold key information on whether he plans to hike rates or lower rates given things remain in the balance with slowing growth and rising inflation. Current forecasts show the RBNZ has not played with the OCR since September 2016 with expectations they would like rates to be around 1.9% in September 2019. With Trade disputes still very much a big market driver and interest rate differentials between the US at 2.00% (expected to rise to 2.50% in 2018) and NZ at 1.75% the theory shows further downward momentum in the pair looms.

Exchange Rates
Current Level: 0.6730
Resistance: 0.6765
Support: 0.6715
Last Week’s Range: 0.6721 – 0.6830

View NZDUSD charts

The New Zealand Dollar (NZD) looked like it was going to make a move higher Monday to possibly push through to 0.6850 but fell short at 0.6834 against the US Dollar (USD) and started its decline south. ANZ Business Confidence didn’t help with the published number coming in worse than expected putting immediate pressure on the kiwi. US Consumer Confidence on the contrary saw a rise in spirits with no slow down in sight expected for the US economy – this will keep households optimistic. An early look at US Non-Farm Payroll, (ADP) printed at 219k also boosting the USD. The Federal Reserve left their cash rate on hold as expected at 2.00% and reflected on a more upbeat economy since the June meeting hinting at the possibility of another 2 hikes this year if data proves solid. President Trump is considering raising the proposed trade tariffs on 200B worth of Chinese products to 25% from 10%, this has nervous waves through markets with risk currencies coming off large. The kiwi has dropped to 0.6730 as I write this, we expect further falls to possibly test 0.6715 soon if risk off continues.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6730
The interbank range this week has been:NZDUSD 0.6727 – 0.6834

View NZDUSD charts

Trump is yet to tweet anything controversial yet this week, while markets await a slew of economic releases. The New Zealand Dollar (NZD) pushed off 0.6760 last week and has made subtle gains to 0.6830. Risk sentiment will play a huge role as the week progresses which could affect the kiwi developing momentum either way. The big ticket economic events for the week is NZ employment data followed by the Federal Reserve Funds rate and statement. The Fed are not looking to raise rates on this occasion with expectation in line with recent forecasts suggesting further hikes will happen on the 27 August announcement. The statement could make life interesting with recent data being super positive, we could see a very optimistic reading with regards to ongoing gradual policy tightening and a bolder statement on intent. Non-Farm Payroll will stir things up late Friday if the Fed hasn’t done so already – expect further movement. 0.6850 is holding current resistance, the kiwi looks to be making moves towards this level. On a broader long term scale we still expect further NZD weakness to prevail.

Exchange Rates
Current Level: 0.6815
Resistance: 0.6850
Support: 0.6750
Last Week’s Range: 0.6763 – 0.6850

View NZDUSD charts

The New Zealand Dollar spiked to 0.6850 midweek after risk associated products caught a break after Trump met with EU’s Juncker on trade tariffs which transpired into a positive meeting to the surprise of investors. The USD bullish tone which followed took the kiwi back lower through the weekly open to 0.6800 as it struggled to hold 0.6780. US advance GDP tonight will hold key interest, anything sub 4.2% will be seen as not good enough and put pressure firmly back on the greenback. Next week holds a significant docket of economic announcements including the Federal Funds Rate which is expected to remain on hold at 2.00% this time around and ending with Non-Farm Payroll figures Friday. Expect plenty of volatility.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6778
The interbank range this week has been:NZDUSD 0.6723- 0.6850

View NZDUSD charts

The New Zealand Dollar (NZD) gaped lower on the weekly open to 0.6790 after President Trump spooked markets by threatening the Iranian President Rouhani via twitter. The choice of media for the President shows us his heightened perception for “fake news” as he continues to prefer using twitter as his main source of media. The kiwi has drifted lower through Tuesday to 0.6770 before recovering back to 0.6790 midday. More sideways action is expected around the 0.6800 area this week depending on how markets perceive risk and how President Trump uses twitter. With a light NZ docket this week we look towards US quarterly GDP figures for further movement.

Exchange Rates
Current Level: 0.6785
Resistance: 0.6850
Support: 0.6715
Last Week’s Range: 0.6714 – 0.6841

View NZDUSD charts

Currently sitting back around 0.6745 after a choppy week ranging between 0.6839-0.6712. The New Zealand dollar (NZD) had trouble at the plus 0.6800 levels earlier in the week and we look for consolidation around current levels to end the week. From a fundamental perspective, we continue to favour the downside, especially if USD strength is maintained, with a break of 0.6720 targeting the 0.6685 level initially. Conversely a push over 0.6860 would negate this view and expose 0.6920 highs last seen in June.

Exchange Rates

The current interbank midrate is:NZDUSD 0.63720
The interbank range this week has been:NZDUSD 0.6712 – 0.6839

View NZDUSD charts

Currently at 0.6775, the NZD has appeared little affected by the weaker than expected Q2 CPI figure of 0.4% (0.5% forecast), after initially dipping to 0.6753 on its release. Given the softer data yesterday from China the NZD still looks vulnerable and we continue to favour the downside over the coming week. Upside moves should be limited by the 0.6800 level over the next day or so, with any offshore USD strength pressuring the 0.6720 support level.

Exchange Rates
Current Level: 0.6779
Resistance: 0.6860
Support: 0.6720
Last Week’s Range:  0.6726 – 0.6857

View NZDUSD charts

Currently at 0.6772 the NZD has climbed back from lows at the 0.6750 level earlier in the week, mainly on a delayed response from China on the increase of items under tariffs announced on Wednesday…a break of 0.6750 would likely see a run back to the 0.6680/85 level seen at the beginning of the month… a push over 0.6860 would target 06920, but we maintain our bias for the downside.

Exchange Rates
The current interbank midrate is:NZDUSD 0.6778
The interbank range this week has been:NZDUSD 0.6749- 0.6858

View NZDUSD charts

The NZD has enjoyed rally against the USD over the last few days as USD bulls take a breather and risk appetite has increased….currently sitting around 0.6844 with first resistance at 0.6860 and with little in the way of local economic data to drive the kiwi higher, look for direction to come from offshore…a break of 0.6920 would signal further gains but we view this as unlikely. A fall below 0.6750 would target previous lows around 0.6685/90.

Exchange Rates
Current Level: 0.6849
Resistance: 0.6920
Support: 0.6770
Lsat Week’s Range: 0.6688 – 0.6858

View NZDUSD charts

Risk products are all higher overnight, the DOW and Nasdaq up over 0.6% as trade war concerns die down. The New Zealand Dollar (NZD) has continued its bull run this week against the US Dollar (USD) to trade at 0.6790 from the low seen Monday of 0.6690. D Day July 7th is upon us, when the first round of US tariffs – 50B in Chinese goods comes into effect. China has vowed to respond with retaliatory tariffs but Donald Trump has stated he will hike the tariffs to include 200B worth of Chinese goods if they do. If this heat up we could see another round of risk averse sentiment stalling the kiwi dragging it back to its lows. Non-Farm Payroll is Friday with markets expecting the number of new employed people to be a little lighter than June 2 figures.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6791
The interbank range this week has been:NZDUSD 0.6688- 0.6802

View NZDUSD charts

The New Zealand Dollar (NZD) extends its five week decline bumping against 0.6690 with the US Dollar (USD) Wednesday after worse than expected NZ Business confidence and Global Dairy Auction results hinder the kiwi’s progress. We saw a small spike higher to 0.6780 late last week as we commented could happen but the kiwi has remained heavy in a market buying the safer greenback. A bounce higher to 0.6760 looks to be temporary with a break above 0.6780 needed to confirm any such moves north. Today is a US holiday- Independence Day which should add increased volatility to currencies with investors and market players being thin. Non-Farm Payroll is Friday with markets expecting the number of new employed people to be a little lighter than June 2 figures.

Exchange Rates
Current Level: 0.6763
Resistance: 0.6830
Support: 0.6680
Last Week’s Range: 0.6688-0.6832

View NZDUSD charts

The New Zealand Dollar (NZD) has remained heavy over the week against the US Dollar (USD) travelling to a low of 0.6745 in a market which has bought volumes of USD. Solid support of 0.6850 and 0.6820 were easily broken as the kiwi made fresh lows.  Donald Trump added more twists and turns in the ongoing trade war, largely the market investors has purchased the greenback across the board while risk currencies like the kiwi have been forgotten. Locally ANZ Business confidence and a dovish RBNZ statement has not helped the NZD. The RBNZ cash rate announcement showed no surprises with markets generally expecting a dovish statement with the rate remaining unchanged at 1.75%. Adrian Orr hinted the economy could be operating at slightly slower than anticipated at this stage of the year. With a quiet calendar next week for the NZD price movement will be massively driven by the slew of US based economic data to publish including Non-Farm Payroll and Unemployment figures which traditionally shift the markets in large chunks. Buyers of USD should buy on spikes, problem is we have not really seen any this week, the only positive is that the pair has levelled out around 0.6740, perhaps poised for a small rebound higher.

Exchange Rates
The current interbank midrate is:NZDUSD 0.6762
The interbank range this week has been:NZDUSD 0.6737 – 0.6922

View NZDUSD charts

Risk sentiment in the markets is subdued still with the New Zealand Dollar (NZD) easing lower from the weekly open against the US Dollar (USD). President Trump has continued with the trade tariff speak attacking China again saying he would stop Chinese technology companies from investing in US based companies. He also Tweeted that any country with unfair tariffs on US made products should be removed immediately or face a stern response from US policy makers. The New Zealand Dollar (NZD) is currently trading around 0.6890 and looks remarkably stable heading into the RBNZ cash rate announcement and statement this Thursday. We are expecting comments by Adrian Orr to be dovish based on recent local data and will no doubt highlight the low inflation environment indicating rates won’t be lifted any time soon. Buyers of USD should look at spikes above 0.6850

Exchange Rates
Current level: 0.6897
Resistance: 0.6920
Support: 0.6820
Last Week’s Range: 0.6826 – 0.6944

View NZDUSD charts

Markets remained risk averse until Thursday, the New Zealand Dollar (NZD) rebounding off 0.6830 against the US Dollar. NZ quarterly GDP released at the expected 0.5% but year on year the figure has fallen slightly to 2.7% from 2.9%. This triggered a delayed sell off in the kiwi as it battled to stay above key long term support of 0.6820. US home sales printed weaker at 5.43M with 5.52M expected assisting the kiwi to rebound off 0.6825 higher. Further trade discussions are still on everyone’s minds as markets await the next move between Donald Trump and China with what will be levied next, for now investors take a well earned breather. Buyers of the greenback (USD) should consider the overnight spike back to 0.6870 as we see further downside in store for the NZD.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6875
The interbank range this week has been:NZDUSD 0.6826- 0.6959

View NZDUSD charts

Markets have entered the week risk averse with the New Zealand Dollar (NZD) taking a hit early to 0.6920 against the safe haven of the US Dollar (USD). Key support is at 0.6850 and then 0.6820 representing long term level support of the low going back to May 2016. We have bounced off this mark several times since so we expect this to hold for the meantime.  Trade tensions have reared its ugly head again with President Trump signalling further tariffs against Chinese imported products with China retaliated slamming tariffs on American made products. We will hear more about this at the end of the week with President Trump winding into it saying he will instigate more tariffs soon. Key data this week for the kiwi will be quarterly GDP Thursday with the number expected to represent a slight slowing in the NZ economy at 0.5%. 0.7400 still represents the top of the long term range but further downside is expected.

Exchange Rates
Current Level: 0.6936
Resistance: 0.6900
Support: 0.6970
Last Week’s Range: 0.6921-0.7053

View NZDUSD charts

US Retail Sales and Unemployment claims both printed better than markets were expecting at 0.8% versus 0.4% and 218k over 223k boosting the US Dollar across the board. FOMC as expected raised their cash rate to 2.00% from 1.75% and hinted at a possible two further hikes in 2018. Risk in the markets also took a hit with the ECB (European Central Bank) startling markets with dovish comments instead of the upbeat rhetoric we were expecting. This dropped the EUR to fresh lows and dampened any appetite for investors to take on risk. The rot may have set in with markets realising the US Dollar (USD) is undervalued, we think risk lies to the downside with massive support at 0.6850. Next week’s quarterly Gross Domestic product (GDP) may hold the answer as to midterm direction, the RBNZ will be praying for a result better than the expected 0.6% from March 2018.

Exchange Rates
The current interbank midrate is:NZDUSD 0.6954
The interbank range this week has been:NZDUSD 0.6948 – 0.7054

View NZDUSD charts

The New Zealand Dollar (NZD) continues to trade within the tight range band of 0.7050 and 0.7000 key support this month. Markets will lack any conviction today with the Singapore summit in place and FOMC meetings later this week. We will see if the NZD has the appetite to break from its theme and develop fresh momentum in any direction. Risk appetite will certainly be the main driver. Its widely expected the FOMC will raise rates on Thursday morning with the talking point being if they will raise the stakes and talk of a 4th hike in 2018. The fear is that if they raise rates to fast this could raise the risk of the economy falling back into a recession. If inflation goes higher the Federal Reserve might look to tighten up credit at the detriment of rising growth – a fine line. Buyers of USD have recently seen prices dip well below 0.7000 to 0.6850, with the pair now back over 0.7000 we suggest levels around here won’t last and the kiwi will continue its path lower for reasons stated above.

Exchange Rates
Current Level: 0.6999
Resistance:0.7060
Support: 0.7000
Last Week’s Range: 0.6999 – 0.7060

View NZDUSD charts

Currencies have moved in strange ways this week with markets lacking any real fundamental analysis to grab hold of. The New Zealand Dollar (NZD) has been no exception with no-one at the wheel. The NZD has slipped back against the USD to 0.7030 after starting the week well pushing through 0.7000 to post a high Wednesday of 0.7060. ISM manufacturing boosted the USD when figures published at 58.6 as opposed to 57.9. The G7 meeting will take centre stage today with tariffs the main point of discussion. Macron the French President has called on other G7 members to “confront” Donald Trump on unfair tariff threats. Technically the kiwi is trading in a bullish trend from the low of 0.6860 and looks to edge higher in the coming days especially if further risk is seen.

Exchange Rates
The current interbank midrate is:NZDUSD 0.7020
The interbank range this week has been:NZDUSD 0.6966- 0.7060

View NZDUSD charts

The New Zealand Dollar (NZD) has rallied hard off the low of 0.6880 against the US Dollar (USD) with markets taking on more risk. Geopolitical issues were put aside with equities and commodities all higher towards the end of the week and flowing over into this week with the NZD opening higher. The kiwi is up sharply pushing through the magical handle of 0.7000 to 0.7045 at the close of the NY session Monday. A relatively quiet week on the calendar for the kiwi with just the Global Dairy Auction (GDT). We could see further volatility with the ongoing “trade war” if things spark up as risk averse markets could return and the NZD could take on losses. With the kiwi above 0.7000 buying levels this could be a good opportunity to fill your boots.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7034
The interbank range this week has been:NZDUSD 0.6884- 0.7048

View NZDUSD charts

The New Zealand Financial Stability report was announced this week with the outcome being NZ is “sound and efficient”. After initially dipping down to 0.6880 against the US Dollar (USD) in risk averse conditions the kiwi rebounded to a high overnight Thursday to 0.7020 with more risk returning to currency markets. A bunch of US data has been released overnight including Personal Consumption Expenditure and Personal Spending, both printing better than expectation and erasing early week nervousness. We should see further upside in the pair as we think risk products will be favored in the short term. The kiwi is bang on 0.7000 currently with a good chance we should see the overnight top of 0.7720 broken before the weekend. Markets await the pivotal US Non-Farm payroll figures tonight.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7010
The interbank range this week has been:NZDUSD 0.6880- 0.7020

View NZDUSD charts

The New Zealand Dollar (NZD) continued to push higher off the low of 0.6850 from 16th May against a recently stronger US Dollar (USD). The kiwi has been choppy but resilient against the favoured US Dollar (USD) as markets have largely chosen to stay clear of risk products such as the NZD with geopolitical uncertainties. In-fact one could argue the NZD has no right trading where it is – 0.6940. Trade Balance figures printing much higher than predicted late last week have carried the support for the kiwi into this week. The RBNZ financial stability report is released Wednesday by Adrian Orr, we expect a hawkish approach to ongoing monetary policy. Buyers of US Dollars should look for a spike above 0.6950

Exchange Rates

Current Level: 0.6930

Resistance: 0.6970

Support: 0.6858

Last Week’s Range: 0.6889 – 0.6973

View NZDUSD charts

Risk sentiment in the markets have driven a lot of the movement in currencies this week with the kiwi no exception bouncing like a fart in a spacesuit. Early in the week we saw markets take on risk products as the kiwi took on 0.7000 reaching 0.6970 but was sold off just as quick when President Trump suggested the crucial meeting set in place between him and Kim Jong Un may not take place. Trump’s letter to Kim Jong Un has upset him threatening with a “nuclear to nuclear showdown” with the US. For buyers out there looking at the right time to buy USD we see strong support around 0.6850 levels with prospects of a rise in the kiwi next week if Trump news settles.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6932
The interbank range this week has been:NZDUSD 0.6881- 0.6973

View NZDUSD charts

The New Zealand Dollar (NZD) dipped 50 points on the weekly open versus the US Dollar (USD), after NZ retail sales printed worse than expected at 0.1% based on expectations of 1.0%. The trade tariff war of words has been halted as the US and China work on a big picture deal. US Secretary Steven Mnuchin said the US trade war with China is “on hold”. Risk returned back into the markets Monday as investors started buying back NZD and other risk associated products sending the kiwi into positive territory to 0.6950. Massive resistance is still seen at 0.7000 with downward momentum widely expected to continue back through the 0.68’s at some stage. A busy week on the calendar with US FOMC meeting minutes Thursday and Federal Reserve Powell speaking. Buyers of US Dollar (USD) should consider levels around 0.6950 as we expect further declines to follow.

Exchange Rates

Current Level:0.6950

Resistance: 0.7000

Support: 0.6860

Last Week’s Range: 0.6852-0.6958

View NZDUSD charts

The New Zealand Dollar (NZD) traded to a low of 0.6852 midweek against the US Dollar (USD), with investors less likely to take on risk currencies this continues to drag the NZD lower. The New Zealand Budget was seen to be very positive for NZ with a bunch of additional government spending on the horizon, the news took the NZD to 0.6940 before falling back. Equities were all down during the overnight sessions Thursday as the USD marched remained in favour. The number of US citizens filing for unemployment was higher than the predicted 216k at 222k but with President Trump making threats to Kim Jong Un to “make a deal” regarding his nuclear weapons programme we have seen buyers staying in the safer greenback.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6884

The interbank range this week has been:NZDUSD 0.6852 – 0.6987

View NZDUSD charts

The New Zealand Dollar (NZD) bounced off the low of 0.6900 midweek after the RBNZ left the benchmark rate unchanged at 1.75%, the US Dollar has outperformed across the board. The kiwi bounced back late Friday to 0.6960 where it closed. The US Dollar has continued its rally across the board Tuesday with the market being risk averse. President Trump exiting from the Iran deal has opened up talks on new sanctions with fresh risk of further conflict in the Middle East with a lack of stability there. A quiet week for the kiwi in terms of local data apart from the Annual Budget, a slew of US based releases should create volatility towards the end of the week with building permits and unemployment claims

Exchange Rates

Current Level: 0.6905

Resistance: 0.7000

Support:0.6825

Last Week’s Range: 0.6903 – 0.7031

View NZDUSD charts

The New Zealand Dollar (NZD) continued its slide against the more dominant US Dollar (USD) falling back to trade post RBNZ announcement to 0.6900. Prior to the RBNZ Cash rate announcement the kiwi was at 0.6980. Donald Trump has followed through with his earlier threats to pull out from the Iran nuclear deal and the US Treasury Department has announced a new round of sanctions on Iran. Treasury Mnuchin said in a statement that the US was intent on cutting off IRFF Islamic Revolutionary Guard Corps revenue streams wherever their source and whatever their destination. The New Zealand Dollar (NZD) may continue to remain under pressure from Geopolitical tensions. Next week we have a busy week on the calendar with US Retail sales, Building permits and the NZ annual Budget.

Exchange Rates

The current interbank midrate is:NZDUSD 0.6959

The interbank range this week has been:NZDUSD 0.6903 – 0.7052

View NZDUSD charts

The New Zealand dollar (NZD) remains stuck in a range against the US Dollar (USD) between the recent high of 0.7050 and the low of 0.6985. Activity in the pair has been light over the last few days with the RBNZ cash rate announcement looming Thursday. Currently trading at 0.7025 a lack of US data over the week should see limited movement. President Trump is due to speak again over the Iran Nuclear deal Wednesday which could be interesting as he is inclined to change or scrap the deal altogether. Abandoning the deal is widely expected to be a “historic mistake” with risk sentiment hanging in the balance. As we have said 0.7000 is acting as staunch support for the kiwi with as it has bounced from this level over 5 times in the month of May.

Exchange Rates

Current Level: 0.7105

Resistance: 0.7050

Support: 0.7000

Last Week’s Range: 0.6986 – 0.7052

View NZDUSD charts

The New Zealand Dollar (NZD) bottomed out at 0.7000 Thursday against the US Dollar (USD) dipping several times below the psychological support level but remains staunch. Starting the week around 0.7100 it has continued to lose favour over a buoyant USD. Data out in the US has been well above expectation with US Private Payroll data adding 240,000 workers and the Federal Reserve reconfirming inflation targets for the next few months. Technically from here all eyes will be on the Non-farm Payroll numbers out Saturday morning, with numbers expected to be positive we may see the kiwi in the 69’s and back at December 2017 levels.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7040

The interbank range this week has been:NZDUSD 0.6986 – 0.7096

View NZDUSD charts

The United States dollar (USD) has continued to reign supreme this week driving the New Zealand dollar (NZD) to the lowest level since January. There is minor support down toward 0.7000, but if we see the NZD below that level the market will quickly target the 0.6800 area. While we remain bearish on the NZD, the easy work has now been done and declines from here will be much harder fought. We may well see the NZD find some support soon and enter a period of ranging, before the downside price action eventually reasserts itself. US GDP data tonight will be key, and then next week from NZ we have business confidence data, the unemployment rate and another dairy auction.

Exchange Rates

Current Level:0.7034

Resistance: 0.7180

Support: 0.7000

Last Week’s Range: 0.7031 – 0.7132

View NZDUSD charts

The United States dollar (USD) has continued to reign supreme this week driving the New Zealand dollar (NZD) to the lowest level since January. There is minor support down toward 0.7000, but if we see the NZD below that level the market will quickly target the 0.6800 area. While we remain bearish on the NZD, the easy work has now been done and declines from here will be much harder fought. We may well see the NZD find some support soon and enter a period of ranging, before the downside price action eventually reasserts itself. US GDP data tonight will be key, and then next week from NZ we have business confidence data, the unemployment rate and another dairy auction.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7061

The interbank range this week has been:NZDUSD 0.7056 – 0.7270

View NZDUSD charts

The New Zealand dollar (NZD) was under pressure from resurgent United States dollar (USD) all last week. From a high at the beginning of the week of 0.7372, the NZD was pressured relentlessly to close the week out close to its low of 0.7199. Although USD gains were broad based, the NZD certainly underperformed losing ground on a number of other crosses as well. In the past 12 hours the USD has made further gains pushing the NZD down below support around 0.7180 to a fresh 2018 low at 0.7146. Momentum is firmly to the down side and this move may well look to test 0.7000 over the coming weeks. With little on the local economic calendar, attention will turn to offshore releases, particularly Core Durable Goods orders and US Advance GDP toward the end of the week.

Exchange Rates

Current Level: 0.7153

Resistance:0.7180

Support: 0.7000

Last Week’s Range: 0.7146 – 0.7372

View NZDUSD charts

The New Zealand Dollar (NZD) has sunk to last week’s opening price of 0.7265 against the US Dollar (NZD). Risk has engulfed markets again with investors reaching for safe haven trades as bears take charge. The mixed US company earnings results shook equities with the NZ Dollar declining. This could be an ongoing theme as we approach tighter global liquidity with mixed worldwide growth making for higher volatility. Long term the pair is still operating within a range band we have mentioned previously between the low of 0.7190 and 0.7400 the high. It looks like we are going to test the lower end of the range. We have a quiet week ahead with no significant local data releasing other than Trade Balance. Expect movement to be driven by offshore factors.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7250

The interbank range this week has been:NZDUSD 0.7241 – 0.7395

View NZDUSD charts

The New Zealand Dollar (NZD) dropped lower off Friday’s high of 0.7375 to close the week against the US Dollar (USD) at 0.7350 in a shaken market. Investors turned to risk aversion late in the week after missile strikes on Syria became a reality, UK, France and the US destroying a number of chemical facilities. A quiet week for data in New Zealand with only the Global Dairy Auction (GDT) Wednesday and quarterly CPI Thursday. Farmers will be expecting another strong number in the Whole Milk Powder despite continued weakening prices in the main index since 21 February. Indications are still to the upside for the New Zealand Dollar (NZD) with the 40 day moving average still showing a possible rise back to 0.7400.

Exchange Rates

Current Level:0.7355

Resistance: 0.7430

Support:0.7320

Last Week’s Range:0.7324  – 0.7395

View NZDUSD charts

The New Zealand Dollar (NZD) has extended its uptrend against the US Dollar (USD) trading to 0.7390 before dropping back to 0.7375 Friday. The markets were positive Wednesday driving risk currencies higher after the US President tweeted he would never stipulated when an attack on Syria would happen suggesting it could be soon or never. Markets saw this as the ticket to buy risk currencies with the New Zealand continuing to outperform. Further moves north should not be ruled out with the resistance of 0.7420 in jeopardy along with the July 2017 high of 0.7555. Indicators mostly point to the upside with the 40 day moving average below current price and the RSI in an overbought region. Next week we have crucial quarterly CPI numbers with the last quarter printing down on expectation.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7372

The interbank range this week has been:NZDUSD 0.7244- 0.7390

View NZDUSD charts

The New Zealand Dollar (NZD) made further ground against the US Dollar (USD) as it has been one of the best performing currencies over the last few days. Rallying to a new high of 0.7320 Monday on renewed enthusiasm for trade talks to soften, the market bought risk products and the New Zealand Dollar (NZD). Commodities and equities were also up, the DOW and Nasdaq both over 0.2% higher on the day. The US Dollar index fall under 90.00 to 89.83. US Core CPI and a FOMC meeting are later in the week and should shake up prospects of the NZD going higher with NZ business confidence to also publish. The NZD bounced off resistance at 0.7320 suggesting the market is not quite ready for the NZD to appreciate further against the US Dollar (USD). With support seen around 0.7300 in the short term it will be interesting to see if this holds. The upper band of 0.7400 is still the aim and could be tested if trade negotiations are resolved amicably.

Exchange Rates

Current Level:0.7325

Resistance: 0.7244

Support:0.7352

Last Week’s Range:0.7216 – 0.7332

View NZDUSD charts

The New Zealand Dollar (NZD) rallied to 0.7320 earlier in the week against the US Dollar (USD) after equities and commodity markets all turned positive. The US Dollar (USD) not fearing well, after being sold off across the board. US ADP data printed better than the expected 208k to 241k boosting the USD Thursday and sending the NZD back to 0.7250. Trade war tensions continue with China, President Trump fired back at China’s plans to dominate “technologies” proposing tariffs on 1,300 specific goods. As the threats continue, markets generally remain of the opinion that the US cannot win a trade war against China, with most eventualities leaving the US with negative consequences.
The NZD/USD is still trading within its 3 month band of 0.7190 – 0.7400. US Non-Farm Payroll is published tonight and is widely expected to be positive. Investors buying USD should keep an eye on the 0.7190 support level over the next week.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7260

The interbank range this week has been:NZDUSD 0.7196- 0.7322

View NZDUSD charts

The New Zealand Dollar (NZD) was rejected from 0.7300 early last week to be sold off in risk off markets down to 0.7180 against the US Dollar (USD). With little local data to be excited about or boost the kiwi, markets have watched as equities and commodities have traded lower pre, and post, Easter break with news of further US and China trade talks negatively impacting optimism. US ISM Manufacturing has printed worse than expected at 59.3 as opposed to 60.1 and had a benign effect on prices Monday. US Non-Farm Payroll is set to publish later in the week, markets most important announcement of the month, if it prints better than the expected 190k as it did last month this could bring some much needed stability back to markets. The pair could test 0.7150 this week as it trades well under the 50 days moving average and most vitally if trade wars don’t significantly improve.

Exchange Rates

Current Level: 0.7210

Resistance: 0.7300

Support:0.7158

Last Week’s Range: 0.7189 – 0.7297

View NZDUSD charts

The New Zealand Dollar (NZD) has reversed sharply off its last week’s low of 0.7150 against the US Dollar bouncing higher on risk appetite to 0.7290. US Talks with China have gone from insulting to productive Tuesday as US Secretary Mnuchin said “we are cautiously hopeful” an agreement can be reached. US Equities have rallied off lows, the DOW up over 2% overnight alone, shaking off the prior day’s hangover. New Zealand Trade Balance figures came out yesterday at 217M also contributing to the surging kiwi Dollar (NZD) , as it eyes 0.7350 the previous high of 13 March.

Exchange Rates

Current Level: 0.7290

Resistance: 0.7410

Support:0.7150

Last Week’s Range: 0.7155 – 0.7303

View NZDUSD charts

The New Zealand Dollar (NZD) has continued to trade lower over the week against the US Dollar (USD) dropping to 0.7150, an early January 2018 low. The Fed Rate announcement took the kiwi back to 0.7230 after the Fed announced a rate hike taking the benchmark cash rate to 1.75% from 1.5%.  Powell remained neutral in his Fed speech on monetary policy but hinted of a hawkish stance ahead saying they would aggressively hike rates as they needed to through to 2020. Consolidating around the 0.7230 we cannot see the kiwi making a push higher to last week’s level of 0.7340 rather, further weakness is still expected over the coming days with a possibility of 0.7150 being again tested.  

Exchange Rates

The current interbank midrate is:NZDUSD 0.7230

The interbank range this week has been:NZDUSD 0.7155- 0.7263

View NZDUSD charts

The New Zealand Dollar (NZD) broke lower back through 0.7300 late last week and traveled to a low of 0.7195 overnight. Softer US data bought risk aversion back to currency markets Friday with further talks of trade tariffs and general political uncertainties. The big question is- is this the turning point for the New Zealand Dollar (NZD)? As we head into a busy week of monetary policy with the RBNZ and the Federal Reserve to release Cash Rate numbers, perhaps market participants have finally worked out that the NZD is overvalued. We shall see come Friday if a bounce back to 0.7350 is on the cards, downside momentum through 0.7200 support could spell trouble for the New Zealand Dollar (NZD) with the previous low of 0.6780 15th November closer to home than it looks.

Exchange Rates

Current Level: 0.7245

Resistance: 0.7195

Support:0.7330

Lsat Week’s Range: 0.7196 – 0.7354

View NZDUSD charts

The New Zealand Dollar (NZD) medium term trend remains range bound against the greenback (USD), although some weakness in the past 12 hours has seen the pair off the best levels of the week. This morning’s Business Manufacturing Index came in a touch below the prior number, adding some further near term pressure to the local currency but key support is not far away. The New Zealand Dollar (NZD) is extremely reluctant to trade at lower levels, the support zone of 0.7180 to 0.7200 has held since early February. It would take an extremely risk adverse market or an unfortunate sequence of local or offshore news for the New Zealand Dollar (NZD) to be thrust below this key level. When the Fed hike rates 0.25% on March 22 we may start to see the market factor in NZD downside?

Exchange Rates

The current interbank midrate is: NZDUSD 0.7255

The interbank range this week has been: NZDUSD 0.7250 – 0.7354

View NZDUSD charts

The New Zealand Dollar (NZD) gained further support over the later stages of the week extending gains over the US Dollar (USD) to 0.7310, where it currently sits. A break higher may see the NZD take a peek at the 0.7430 band, the pre July 2017 level. US Non-Farm Payroll printed well creating risk appetite with investors the NZD receiving full benefit as buyers purchased NZD into the tail end of the US session. Equities were also higher with the DOW up over 1.5% at the close. The New Zealand Dollar movement this week could be largely governed by investor risk appetite and continuing tariff negotiations.

Exchange Rates

Current Level:0.7304 

Resistance: 0.7320

Support: 0.7245

Last Week’s Range: 0.7231 – 0.7323

View NZDUSD charts

The New Zealand Dollar (NZD) climbed to 0.7310 vs the United States Dollar (USD) midweek as news that North Korea are believed to be interested in talks about giving up Nuclear Weapons and normalizing relations with the US. The New Zealand Dollar spiked to a monthly high as markets turned to risk on and bought the NZD. Little local data suggests movement will be guided by US based markets. Non- Farm Payroll at the end of the week will impact movement as it always does, figures slightly better than February 3rd are expected at 201,000 new people added to the workforce. Buyers of USD Dollars should not overlook prices north of 0.7200 as monetary policy tightens around the globe the kiwi may struggle to retain current levels.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7257

The interbank range this week has been:NZDUSD 0.7204 – 0.7310

View NZDUSD charts

The New Zealand Dollar (NZD) has traded lower against the US Dollar (USD). Opening the week at 0.7240 it was immediately under pressure falling away to a low of 0.7200 during early sessions. We have another Global Dairy Auction tonight, with the last average price of -0.5% (Feb 21), markets will be expecting a strong number to match the previous 3 going back to December last year. US ISM Manufacturing was slightly above the number expected early Tuesday and pushed the kiwi back towards the earlier low. Non-farm payroll figures will be the highlight of the week Friday and will be crucial for the US economy to keep its momentum and offer an early sign of further US rate hikes. Buyers of the US Dollar (USD) will should consider levels above 0.7200 with volatility expected closing the week.

Exchange Rates

Current Level: 0.7235

Resistance:0.7280

Support: 0.7204

Last Week’s Range:0.7187 – 0.7301

View NZDUSD charts

The New Zealand Dollar (NZD) has lost support against the US Dollar (USD) sliding to a low of 0.7180 late during the US trading session Friday. ANZ Business was underwhelming and offered no reprieve. Then US President Trump spoke of approving tariffs on the imports of steel and aluminum into the US and sank the greenback. In the process the NZD/USD traded higher to 0.7260. New Zealand Building consents for new homes were flat for January showing approvals at a modest 0.2%. Looking ahead locally next week we have another global Dairy Auction (GDT Price Index) Wednesday, with -0.5% on February 21st markets are expecting something better.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7264

The interbank range this week has been:NZDUSD 0.7187 – 0.7344

View NZDUSD charts

The New Zealand Dollar (NZD) drifted lower late last week to a low of 0.7270 against the United States dollar (USD) during the NY session. Friday’s Retail Sales for December was positive with 1.7% as opposed to 1.4% expectation. This pushed buyers into NZD for a while before NZD succumbed to US strength closing the week at 0.7292, 80 points lower than the Monday open. This week sees a bunch of economic data to be released globally with only ANZ Business Confidence of note locally.

 

Exchange Rates

Current Level: 0.7295 

Resistance: 0.7345

Support: 0.7260

Last Week’s Range:0.7271 – 0.7382

View NZDUSD charts

The New Zealand Dollar (NZD) posted further losses against the US Dollar (USD) as speculation the US economy could be building on growth faster than previously thought. FOMC minutes cautioned an imbalance in financial markets may emerge as the economy starts to operate above its expected potential. The New Zealand Dollar trades at 0.7320 well lower than previous week high of 0.7435 in a market environment where we are seeing a lot of head scratching going on. Support is now seen at 0.7250. This is seen as the 50% retracement of the previous range suggesting we could see a reversal bounce higher. NZ retail Sales print Friday could be the support the New Zealand Dollar (NZD) needs.

 

Exchange Rates

The current interbank midrate is:NZDUSD 0.7341

The interbank range this week has been:NZDUSD 0.7308 – 0.7435

View NZDUSD charts

The New Zealand Dollar has out-muscled the US Dollar again over the last few days. Remaining at near 6 month highs it remains popular through most trading sessions as investors remain optimistic. Late Friday saw a slight return to normality after the US Building Permits came in better than expected dropping the kiwi back half a cent to trade around 0.7400 the figure at the NY close to the week. Momentum is still seen to the upside for the NZD with Global Dairy Trade Auctions (GDT) tonight expected to be positive for dairy Farmers and give the kiwi further support leading into the Retail Sales Friday. Buyers of USD should consider at current levels with markets still volatile, anything could eventuate.

Exchange Rates

Current Level: 0.7370

Resistance: 0.7409

Support:0.7350

Last Week’s Range: 0.7247 – 0.7435

View NZDUSD charts

The New Zealand Dollar (NZD) opened the week trading at 0.7240 and has appreciated against the US Dollar (USD) improving on better than expected NZ inflation expectations and a terrible midweek US Retail number. From 0.7400 Friday the New Zealand Dollar may look to retest 0.7555 high of July 2017 as it seems it will take material influence to knock the kiwi off its lofty throne in the near term. With momentum extremely strong amid a risk on market, short term resistance of 0.7420 is key. Buyers of the US Dollars could think about buying at these levels with uncertainty still in the air prices around 0.7350 are historically very good.

 

NZD/USD Exchange Rates

The current interbank midrate is:NZDUSD 0.7405

The interbank range this week has been:NZDUSD 0.7199 – 0.7411

View NZDUSD charts

The New Zealand dollar (NZD) closed the week higher against the United States dollar (USD), well up on the midweek low of 0.7180 and pushing as high as 0.7270 post Monday’s open. Looking fairly robust as always it should continue to appreciate back to early Feb highs of 0.7400 as risk on becomes the flavor. Friday’s NZ Retail figures will be key to this. The other release to keep an eye on this week will be US inflation which hits the wires on Wednesday night. A strong US inflation result will push US interest rates higher again, which could easily spark another wobble in the equity markets and result in another wave of “risk off” sentiment in currencies.

NZD/USD Exchange Rates

Current Level: 0.7259

Support: 0.7200

Resistance:0.7260

Last Week’s Range:0.7178 – 0.7349

View NZDUSD charts

The New Zealand Dollar (NZD) edged higher Wednesday to post a high of 0.7350 before being sold off in all trading sessions. The RBNZ statement Thursday offered little upside for the NZD reaching a fresh low of 0.7200 as investors sold the NZD. With the kiwi trading at a monthly low we look for next week’s quarterly inflation expectations to provide further support back above 0.7300.  Medium term support still sits at 0.7200 being the 50% retracement of the previous low of 0.6800.

NZD/USD Exchange Rates

The current interbank midrate is:NZDUSD 0.7224

The interbank range this week has been:NZDUSD 0.7178 – 0.7405

View NZDUSD charts

The New Zealand dollar (NZD) has wilted in the post NFP USD rally and opens this morning around 0.7285. It’s hard to see it being sold down too far ahead of tomorrow’s dairy auction and then Thursday’s RBNZ statement. The pressure is now on the NZD as USD data continues to be solid and US rate hike expectations increase for perhaps 4 rises over the year. Light trading to feature over the next two days and we expect 0.7250 to hold any declines in the short term. We remain NZD bearish against the United States Dollar (NZD/USD).

NZD/USD Exchange Rates

Current Level: 0.7292

Support:  0.7120

Resistance: 0.7420

Last Week’s Range: 0.7279 – 0.7402

View NZDUSD charts

The New Zealand dollar (NZD) continues to box above its weight against the United States dollar (USD), spiking to 0.7418 overnight. It is now back at 0.7371 and looks well supported. There is no main data out for the NZD until next week when we will have another global dairy auction, employment data and the RBNZ announcement. Until then the NZD will be driven by offshore forces, current high NZD levels look increasingly stretched.

 

NZD/USD Exchange Rates

The current interbank midrate is:NZDUSD 0.7375

The interbank range this week has been:NZDUSD 0.7281 – 0.7393

View NZDUSD charts

The 0.7300 support level remains a pivotal level for the New Zealand dollar (NZD) to hold. This week with little local data, it will be all about offshore movements and with plenty of headlines out from the US this week has potential to be volatile. We expect consolidation trading ahead of the Fed meeting at current levels but any breakdown through 0.7300 would likely quickly extend to the 0.7250 region for the NZD/USD cross.

Exchange Rates

Current level: 0.7334

Support:0.7300

Resistance:0.7350

Last Week’s Range: 0.7292 – 0.7434

View NZDUSD charts

The NZD was on a tear this week rallying to a high of 0.7434, the highest level since September 2017. However, it was knocked back yesterday by CPI data that fell well below expectations, dropping to the 0.7336 level. Overnight the NZD has retreated further after President Trump’s comments on a stronger USD saw the Greenback rally, pushing the NZD back to the 0.7324 region. The 0.7300 support is now critical, a break of this level would see a run to 0.7250 and below. With NZ fundamentals on the turn, low inflation, dropping business confidence levels pitted against a US economy that is accelerating and at least 3 Fed rate hikes now probable over the next year, current NZD levels look unsustainable.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7338

The interbank range this week has been:NZDUSD 0.7269 – 0.7434

View NZDUSD charts

The New Zealand dollar (NZD) continues to hold above 0.7300 and is now building a more solid base with the weaker US tone on the US government shutdown helping. We remain sceptical that fundamentals will remain supportive, but at the moment the trend for the NZD/USD is up. A break over 0.7340 would target 0.7355 but any snap-back in the USD as next month’s Fed rate decision approaches will knock the NZD. Current levels look attractive for sellers of NZD.

Exchange Rates

Current Level: 0.7317

Support: 0.7150

Resistance: 0.7340

Last Week’s Range: 0.7236 – 0.7331

View NZDUSD charts

The New Zealand dollar (NZD) is still trying to breathe the rarified air above the 0.7300 level against the United States dollar (USD) where it looks as if it is now gasping for air. Over the last 3 days each high has been lower than the last, 0.7329,0.7319,0.7310. The better Global Dairy auction result was supportive but this effect looks as if it is now wearing off. If a US shutdown can be averted, look for the NZD to feel the heat into next week, in which case 0.7150 beckons.

Exchange Rates

The current interbank midrate is:  NZDUSD 0.7295

The interbank range this week has been: NZDUSD 0.7220 – 0.7331

View NZDUSD charts

The New Zealand dollar (NZD) is on a tear against the USD, reaching an overnight high of 0.7313 the highest level since the end of September 2017. It is now back a little at 0.7290, immediate resistance is 0.7326 then 0.7360. The NZD remains bullish as the weaker USD tone persists, but NZD values look overextended at these levels and the Global Dairy auction results overnight may be pivotal, as if prices follow-on from last fortnight’s increase, look for the NZD to extend gains, however if prices resume to their previous slide this may be provide a catalyst for profit taking.

Exchange Rates

Current Level: 0.7304

Support: 0.7150

Resistance: 0.7360

Last Week’s Range: 0.7142 – 0.7307

View NZDUSD charts

The New Zealand dollar (NZD) has forged higher over the last few days on the back of a stronger AUD and weaker USD. After opening the week around the 0.7140 the NZD/USD is currently trading up at 0.7270 and although looks to be overbought on very thin underlying fundamentals, the breach of the 0.7245/50 level now targets 0.7300. Immediate support is at 0.7240/45 a break of which would run to the 0.7200 region. Given further US Fed rate hikes are anticipated and in the absence of stronger domestic NZ fundamentals, current levels for sellers of NZD look attractive. Tonight’s US CPI and retail has the power to influence current levels.

Exchange Rates

The current interbank midrate is:NZDUSD 0.7256

The interbank range this week has been:NZDUSD 0.7142 – 0.7276

View NZDUSD charts

The New Zealand dollar (NZD) continues to hold onto most of its previous gains against the United States dollar (USD). The NZD/USD is currently trading around 0.7175 and although the USD was stronger overnight we still favour a squeeze to test 0.7200 over the next day or so. There remains strong resistance at the 0.7200 level, but a close over 0.7200 would then target 0.7230/40.

Exchange Rates

Current Level: 0.7176

Support: 0.7050

Resistance: 0.7230

Last Week’s Range: 0.7075 – 0.7187

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The New Zealand dollar (NZD) has been making solid gains against the United States dollar (USD) since early December. Those gains have continued over the Christmas and NY period despite a run of strong US economic releases that one might have suspected would support the USD. The general theme of the past couple of weeks has been broad based USD weakness, and we saw another bout of that last night. It’s hard to point a finger at anything in particular that is driving the move, and as such caution is warranted when looking for NZD/USD upside targets. It wouldn’t take much to turn the pair around and tonight we have the all-important monthly US employment report. That report may well make or break the current NZDUSD rally. As has been the case recently, it may well be the wage growth numbers that carry more weight than the headline jobs figure. There is solid resistance around the 0.7200 area which we suspect that will cap the gains ahead of the employment report.

Exchange Rates

The current interbank midrate is: NZDUSD 0.7154

The interbank range this week has been: NZDUSD 0.7072 – 0.7163

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The New Zealand dollar (NZD) has made solid gains against the United States dollar (USD) over the course of December. The move extended this week as commodity currencies lead the gains against a broadly weaker USD. The NZD has traded to a high so far of 0.7099, and there is little to indicate the rally is over. Key trend support is now seen at 0.7045 and while the NZD holds above that level the risks remains skewed to the topside.

 Exchange Rates

The current interbank midrate is: NZDUSD 0.7087

The interbank range this week has been: NZDUSD 0.7004 – 0.7099

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The New Zealand (NZD) ends a week of choppy trading. Now sitting around the 0.7019 against the USD after being buffeted by the increased trade deficit and lower prices at the Global Dairy auction, with support coming in from the better GDP result. Given that the US tax legislation the NZD/USD has proved very resilient. Immediate resistance is now at 0.7030 which if broken could see a move back to test 0.7050. Support is at 0.7000 then 0.698.

Exchange Rates

Support: 0.6920

Resistance: 0.7030

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Market volumes in the New Zealand (NZD) are starting to decrease as the holiday’s approach. After a high against the United States dollar (USD) of 0.7032 the NZD has drifted lower and now stands at 0.7003. Risk overnight is the Global Dairy auction result which if bad could see the NZD slip back into the 0.6975 zone. A stronger USD if the tax legislation is passed by the US Congress would increase downward pressure on the NZD. Tomorrows net migration, trade balance and the current account deficit are all due at 10:45am. For now upside looks capped at the 0.7020 level with the downside favoured.

Exchange Rates

Current Level: 0.7009

Support: 0.6920

Resistance: 0.7030

Last Week’s Range: 0.6916 – 0.7034

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After several days of stellar gains where the New Zealand dollar (NZD) traded up to a high of 0.7026 against the United States dollar (USD) the NZD was knocked lower overnight on better USD data and profit taking as it started to look overextended. We now look for consolidation around the 0.6950 – 0.7000 level over the next week before another push back towards the 0.7020 level providing the USD remains subdued . However next week will see market volumes decrease as the holiday season kicks in.

Exchange Rates

The current interbank midrate is: NZDUSD 0.6984

The interbank range this week has been: NZDUSD 0.6823 – 0.7027

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The New Zealand (NZD) began this week down at 0.6833 against the United States dollar (USD) after being dragged down by the poorly performing Australian dollar (AUD) towards the end of last week. After the news of the new Reserve Bank of New Zealand (RBNZ) Governor the NZD went on a tear, rallying hard to a high of 0.6928. There was little reason for such a bounce but it looks as if the market was a little short the NZD and this little bounce caused short sellers to liquidate their positions, exacerbating the move higher. Immediate resistance is now at 0.6944, with next stop at 0.6950 before 0.7000, but it is hard to see this NZD rally pushing on too hard, ahead of the US Fed meeting. Those looking to purchase USD should take advantage of the period of NZD strength.

Exchange Rates

Current Level: 0.6910

Support: 0.6820

Resistance: 0.6950 

Last week’s Range: 0.6823 – 0.6930

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Lacklustre week for the NZD as has been dragged lower against the USD by the very average AUD…a solid US Non-farm payroll figure would likely push the NZD through support at 0.6820 into the 0.6750/85 region..

Exchange Rates

 Support: 0.6820

Resistance: 0.6920 


The NZD/USD was knocked around by yesterday’s business confidence figure dropping from 0.6887 to 0.6828 , now at 0.6838. This seems to be holding and resisted being sold below 0.6815 overnight. Holding around current levels would establish a good base to move higher next week into the 0.6850/90 region.

The current interbank midrate is: NZDUSD 0.6828

The interbank range this week has been: NZDUSD 0.6815-0.6945


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The New Zealand dollar (NZD) has enjoyed a gradual trend higher this week against the United States dollar (USD) from a 0.6782 low early in the week. The move has mainly on the back of the weaker USD. The pair is now at 0.6885 looks like it may push onto 0.6900 over the next day or so. It starting to look very much like a cycle low has now been put in place and that should keep the focus on further gains in the NZD/USD.

The current interbank midrate is: NZDUSD 0.6880

The interbank range this week has been: NZDUSD 0.6782-0.6905


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This mornings release of the Federal Open Market Committee’s (FOMC) minutes from it’s latest meeting have caused some USD weakness. There was a slight dovish overtone to the minutes which have raised a few doubts about a Fed interest rate hike in December, and that’s weighed on the USD. For what it’s worth, we still believe a December hike is very likely but the Fed could easily decide to hit the pause button after that. As a result of the United States dollar weakness the NZD/USD has climbed up to the 0.6880 area and it looks like it will try to head higher still. It’s starting to look like the pair may have made a cycle low late last week just under 0.6800, and a sustained move about 0.6880 would cement that view. We favour the NZDUSD heading higher over the coming days. Those looking to convert USD to NZD should consider trading sooner rather than later.

Last week’s range: 0.6782 – 0.6918


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The New Zealand dollar (NZD) is now at 0.6809 against the United States dollar (USD), up from the 0.6779 low seen last Friday, however it looks soft and very susceptible to further USD strength. The NZD/USD seems to be establishing a lower trading range and with little data this week is likely to hold a 0.6780/0.6820 range over the next couple of days.

Current Level: 0.6800

Support: 0.6740

Resistance: 0.6850

Last week’s range: 0.6782 – 0.6918


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The New Zealand dollar (NZD) as drifted lower against the United States dollar (USD) over the week from the 0.6917 high seen on Monday. It is now at 0.6860 and looks soft especially given the stronger USD tone. We feel the pair should hold current levels to end the week, but progress on the US tax reform package next week should keep NZD under pressure. The key level to watch is around 0.6820 in the wholesale market. Any significant break below there would be a bearish signal. If the NZDUSD fails to break below 0.6820 over the coming sessions, a recovery may we’ll develop.

The current interbank migrate is: NZDUSD 0.6879

The interbank range this week has been: NZDUSD 0.6836 – 0.6953


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The New Zealand dollar (NZD) is back at levels seen last week against the United States dollar (USD). It is now at 0.6877 and should trade around current levels ahead of the US CPI and growth data. With the ongoing tax reform issues in the US the NZD should see some buying support, look for consolidation at current levels over the next few days.

Current Level Support Resistance Last week’s range
NZD/USD 0.6867 0.6820 0.6980 0.6862 – 0.6979

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The New Zealand dollar (NZD) having started the week at lows around 0.6874 against the United States dollar (USD) is now back at 0.6942 after yesterday’s less dovish Reserve Bank of New Zealand (RBNZ) statement. Also helping has been the USD pullback on the back of doubts around Trumps tax package. Continued USD weakness may see a move back over 0.7000 next week but with NZ data expected to be softer it will be hard work for the currency to sustain gains much above this level.

Exchange Rates: 

The current interbank midrate is: NZDUSD 0.6950

The interbank range this week has been: NZDUSD 0.6876 – 0.6979

View NZDUSD charts

The New Zealand dollar (NZD) opens higher this morning against the US dollar (USD), helped by the rally in commodity currencies overnight. It now at 0.6945 and looks to have built good support at lower levels but we don’t expect this rally to have “legs’ and extend too far ahead of the RBNZ announcement on Thursday. 0.6980 should hold advances ahead of that meeting. Tonight’s Global Dairy auction may provide a damper.

Current Level Support Resistance Last week’s range
NZD/USD 0.6942 0.6820 0.6980 0.6832 – 0.6956

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The New Zealand dollar (NZD) has remained under pressure all week breaking down through support at 0.6860 last night. While NZD weakness on the back of the Labour coalition announcement is largely now priced into the market, declines in the past 48 hours have been driven by USD strength (NZD/USD). As Trumps tax plan overcomes hurdles, and the chance if it actually been implemented before Christmas increases, the USD is finding support.

The next key level to watch is the low from 11th May at 0.6820. Only time will tell if that can contain the decline, but from our point of view the (NZD/USD) pair has come a long way in a short space of time and it’s starting to look a little oversold. It wouldn’t take much to trigger a corrective bounce. We believe those with USD to convert to NZD should be taking advantage of this weakness.

The current interbank midrate is: NZD/USD 0.6830

The interbank range this week has been: NZD/USD 0.6819 – 0.7004

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The New Zealand dollar (NZD) remains under pressure against the USD. It should consolidate around current levels 0.6850 and we still expect some retracement of previous losses back to the 0.6980-0.7000 level, but will be tough given the US data due this week. A break of 0.6820 would open the door to 0.6775.

Current Level Support Resistance Last week’s range
NZD/USD 0.6851 0.6820 0.6980 0.6819 – 0.6956

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Under pressure all week, the NZD has been breaking down through support at 0.6860 last night. While NZD weakness on the back of the Labour coalition announcement is largely now priced into the market, declines in the past 48 hours have been driven by USD strength. As Trumps tax plan overcomes hurdles, and the chance if it actually been implemented before Christmas increases, the USD is finding support.

The next key level to watch is the low from 11th May at 0.6820. Only time will tell if that can contain the decline, but from our point of view the pair has come a long way in a short space of time and it’s starting to look a little oversold. It wouldn’t take much to trigger a corrective bounce. We believe those with USD to convert to NZD should be taking advantage of this weakness.

The current interbank midrate is: NZD/USD 0.6830

The interbank range this week has been: NZD/USD 0.6819 – 0.7004

View NZDUSD charts

Opening the week marginally softer, the NZD has slipped to 0.7166 yesterday, is now back at 0.7185 but with USD data to be solid, look for a test of 0.7150/0.7130 over the next few days.

Current Level Support Resistance Last week’s range
NZD/USD 0.7179 0.7130 0.7300 0.7167 – 0.7243

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The NZD has been remarkably resilient against the USD over this week. It is now at 0.7215 after low at 0.7165 earlier in the week. The pair should hold the 0.7200-0.7235 range to end this week and start next. The key levels to watch are support around 0.7170 and resistance around 0.7240. A break of either level will likely see the move extend.

The current interbank midrate is:    NZDUSD 0.7210

The interbank range this week has been:    NZDUSD 0.7167 – 0.7344

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Post election, the New Zealand dollar has been relatively subdued after the election produced a clear winner but no clear government. It is now at 0.7240 with tone to the downside on the risk-off tone and concerns around the coalition government. 0.7220-0.7300 should hold over the next couple of days.

Current Level Support Resistance Last week’s range
NZD/USD 0.7241 0.7150 0.7430 0.7252 – 0.7407

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It has been a week of poll driven whippy trading for the New Zealand dollar. It is now at 0.7290 after a high of 0.7431 2 days ago. It should stay around the 0.7270/0.7310 level heading into the weekend, but tomorrow’s result could provide plenty of action on Monday morning. A National win will likely see a small relief rally, while a Labour victory may well spark a sharp correction lower, at least temporarily.

The current interbank midrate is:    NZDUSD 0.7288

The interbank range this week has been:    NZDUSD 0.7229 – 0.7408

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The New Zealand dollar has had a whippy week with a 0.7320-0.7180 range against the USD (NZD/USD). It is now at 0.7225 and becoming very poll driven with only a week out from the election. The downside is still favoured given stronger US data. It should hold at current levels until next week with bias to downside of range.

The current interbank midrate is:    NZDUSD 0.7229

The interbank range this week has been:    NZDUSD 0.7187 – 0.7337

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After spiking to 0.7336 last Friday the New Zealand dollar (NZD) is back at 0.7250 close to the 0.7240 support. Given the stronger USD we look for the NZD to trade in the 0.7240-0.7290 range but with election jitters in the market downside is favored.

Current Level Support Resistance Last week’s range
NZD/USD 0.7232 0.7150 0.7300 0.7164 – 0.7337

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After a tough start to the week the New Zealand dollar is now up at 0.7290 against the USD, mainly on the back of weaker US data. The break above minor resistance around 0.7265/70 opens the way for a push onto 0.7300, but given the looming election hard to see much further progress from this level.
The current interbank midrate is:    NZDUSD 0.7290

The interbank range this week has been:    NZDUSD 0.7143 – 0.7294

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The New Zealand dollar dropped below major support at 0.7180 to trade at a low of 0.7132 against the United States dollar. It has bounced back to 0.7178 currently but looks soft and a solid US jobs figure tonight could see the NZD testing the 0.7132 level again. The 0.7200 level should cap any up moves short term, and we remain bearish for the kiwi heading into next week.
The current interbank midrate is:    NZDUSD 0.7176

The interbank range this week has been:    NZDUSD 0.7133 – 0.7298

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The New Zealand dollar as found its feet against the USD after a tough week last week. It is now at 0.7245 and should hold around current levels ahead of the US data dump in the next few days. Support at 0.7180 is critical to avert sustained moves lower as any break below that level would be a negative signal.

Current Level Support Resistance Last week’s range
NZD/USD 0.7228 0.7180 0.7280 0.7193 – 0.7328

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The New Zealand dollar has been knocked lower against the USD over the week. It is now at 0.7203 but has been to 0.7190 overnight and it continues to look soft. We expect 0.7150 to be tested next week, but a lot will depend on exactly what Fed Chair Yellen says tonight.
The current interbank midrate is:    NZDUSD 0.7215

The interbank range this week has been:    NZDUSD 0.7193 – 0.7337

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The New Zealand dollar has climbed back over 0.7300 against the United States Dollar mainly on the weaker USD. With little domestic data this week, NZD moves will be driven by offshore. With the current weaker US tone and more risk-on appetite we look for the NZD to stay in a 0.7315-0.7360 range for the next few days.

Current Level Support Resistance Last week’s range
NZD/USD 0.7319 0.7250 0.7400 0.7224 – 0.7337

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The New Zealand dollar has been helped by the weaker US CPI but remains susceptible to any further uptick in risk-aversion. It’s now up slightly at 0.7300 USD with support 0.7250 that should hold in the near term. However, any United States dollar strength will test this level and tonight’s US retail sales data may be key in this respect.

Current Level Support Resistance Last week’s range
NZD/USD 0.7306 0.7250 0.7400 0.7252 – 0.7370

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The New Zealand dollar has been knocked by the move to safe-havens and the RBNZ yesterday. It fell below support at 0.7340 to the United States dollar and is now at 0.7274. It should hold above 0.7250 unless tonight’s US data is good and/or the Korean situation deteriorates.
The current interbank midrate is:    NZDUSD 0.7261

The interbank range this week has been:    NZDUSD 0.7252 – 0.7455

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The New Zealand dollar has broken support at 0.7400 against the USD and immediate support at 0.7340 is now close. It should stay around current levels ahead of the RBNZ on Thursday but a break of 0.7340 would open the way to 0.7270/80.

Current Level Support Resistance Last week’s range
NZD/USD 0.7351 0.7340 0.7400 0.7348 – 0.7516

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The New Zealand dollar has continued to soften against the USD over the week. It is now at 0.7432 in flat trading ahead of tonight’s US jobs figure which will be key in determining near term direction. The RBNZ next week should continue with a dovish tone so we see a test of the 0.7400 level over the next few days likely.
The current interbank midrate is:    NZDUSD 0.7429

The interbank range this week has been:    NZDUSD 0.7393 – 0.7524

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The New Zealand dollar continued to surge against the USD for much of this week. Sharp gains were seen in the wake of yesterday’s FOMC statement. The move did look a little overdone yesterday, considering the Fed didn’t deliver any real surprise, and overnight we have seen a decent correction lower. It’s certainly too early to say the tide has turned on this period of USD weakness, but last night’s pull back from the highs does raise that question. If we get a solid US GDP figure tonight, that may well be enough to suggest a medium term high was been put in place yesterday at 0.7556. We look for consolidation around current level ahead of that GDP data.
The current interbank midrate is:    NZDUSD 0.7495

The interbank range this week has been:    NZDUSD 0.7395 – 0.7556

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After failing to make significant gains against a broadly weakening USD in the first half of last week, the New Zealand dollar (NZD) eventually came to the party and jumped to a 10 month high on Friday at 0.7459. Since then the NZD/USD pair has been consolidating those gains trading back for fourth around the 0.7430 area. It may well be trying to build a base for another crack higher toward the 2016 high at 0.7485. I’m not convinced the NZD has the momentum to break above that high, at least not at the moment, so those looking to purchase USD in the near term should take advantage of any further strength we see. A large part of New Zealand dollars recent rally has been on the back of a broadly weakening United States dollar. Political paralysis in Washington has played a big part in driving the USD’s decline, and for tide to really turn on this move the market is going to need to believe the Trump administration can get some of its key policies passed into law. This week from the US we have the FOMC statement, which shouldn’t provide and major surprises, along with along with Durable Goods order and Advance GDP.

Current Level Support Resistance Last week’s range
NZD/USD 0.7437 0.7375 0.7485 0.7268 – 0.7459

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For much of this week the New Zealand dollar (NZD) struggled around the 0.7350 area, failing to make any real gains against the USD that was seeing across the board pressure. Tuesday’s soft NZ inflation result certainly played its part in keeping the NZD contained, but in the past 24 hours the local currency has shaken off the disappointing data and surged through to the highest level since August 2016. It really has all been about USD weakness with the political situation meaning it’s looking less and less likely the Trump administration will be able to get its “reflation” policies enacted. This latest jump higher in the NZD has now bought the August 2016 high of 0.7485 into range and the market may well look to target that over the coming sessions. Expect significant resistance as we approach that level however, and those looking to purchase United States Dollars should take advantage of this period of strength.
The current interbank midrate is:    NZD/USD 0.7402

The interbank range this week has been:    NZD/USD 0.7268 – 0.7414

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After failing to make significant gains against a broadly weakening USD in the first half of last week, the New Zealand dollar eventually came to the party and jumped to 10 month highs on Friday at 0.7459. Since then the pair has been consolidating those gains trading back for fourth around the 0.7430 area. It may well be trying to build a base for another crack higher toward the 2016 high at 0.7485. I’m not convinced the NZD has the momentum to break above that high, at least not at the moment, so those looking to purchase USD in the near term should take advantage of any further strength we see. A large part of New Zealand dollars recent rally has been on the back of a broadly weakening United States dollar. Political paralysis in Washington has played a big part in driving the USD’s decline, and for tide to really turn on this move the market is going to need to believe the Trump administration can get some of its key policies passed into law. This week from the US we have the FOMC statement, which shouldn’t provide and major surprises, along with along with Durable Goods order and Advance GDP.

Current Level Support Resistance Last week’s range
NZD/USD 0.7437 0.7375 0.7485 0.7268 – 0.7459

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The New Zealand dollar has been trapped in an increasingly tight range against the United States dollar over the past few weeks. Even Friday’s key US employment data couldn’t break the deadlock. Support comes in around 0.7250 with topside resistance around 0.7340, and these two levels have contained the pair for much of the past three weeks. Last night’s range was a decidedly anaemic 19 points! Although further attempts to rally can’t be ruled out, our view is that the greater risk is a significant pullback toward the 0.7000 area. At this stage however it’s hard to see what exactly could trigger that. In the meantime, those looking to purchase USD should take advantage of the current level, or any potential further strength we may see.

Current Level Support Resistance Last week’s range
NZD/USD 0.7251 0.7250 0.7340 0.7245 – 0.7310

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The New Zealand dollar continues to struggle to hold levels above 0.7300. Now around 0.7286 and a move to 0.7250 beckons unless tonight’s US jobs data surprises.
The current interbank midrate is:    NZDUSD 0.7286

The interbank range this week has been:    NZDUSD 0.7245 – 0.7345

View NZDUSD charts

The New Zealand dollar seems to find the air over 0.7300 too thin to breath. Now at 0.7275, but given stronger USD data, the NZD ‘s golden run may be over for a while. It looks like 0.7250 beckons.

Current Level Support Resistance Last week’s range
NZD/USD 0.7280 0.7250 0.7325 0.7255 – 0.7345

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The New Zealand dollar has struggled this week and in spite of the solid fundamentals continuing it looks a little out of breath above the 0.7300 level. It is now at 0.7315 but next week’s US data will provide a challenge. Look for rallies to continue to run into willing sellers.
The current interbank midrate is:    NZD/USD 0.7320

The interbank range this week has been:    NZD/USD 0.7255 – 0.7341