News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.93%, while traders in France 40 are at opposite extremes with 75.22%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F80m5ro5O1
  • Heads Up:🇪🇸 Balance of Trade (FEB) due at 08:00 GMT (15min) Previous: €-1.769B https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇮🇹 Inflation Rate YoY Final (MAR) due at 08:00 GMT (15min) Expected: 0.8% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-04-15
  • German Health Minister says Germany will have 20% of population vaccinated by the end of April $EUR
  • $NZD at a 3-1/2 week high, paring the drop that stemmed from recently announced NZ housing measures https://t.co/ocdA74ucmI
  • (Oil Briefing) Crude Oil Price Outlook: Aiming for February Peak Ahead of US Retail Sales #CrudeOil #WTI #EIA https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/04/15/Crude-Oil-Price-Outlook-Aiming-for-February-Peak-Ahead-of-US-Retail-Sales.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/ynLW9Tlcyt
  • The Dow Jones Industrial Average of blue-chip stocks is likely to outperform the tech-heavy Nasdaq 100 if worries about inflation force the Fed to trim stimulus sooner than expected. Get your market update from @IlyaSpivak here:https://t.co/G0F0MUOOtw https://t.co/uNqlJSvjho
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.61% Silver: 0.54% Oil - US Crude: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iWYOaOWZCE
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.33% 🇦🇺AUD: 0.14% 🇨🇦CAD: 0.12% 🇯🇵JPY: 0.05% 🇨🇭CHF: 0.05% 🇪🇺EUR: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/g9FqcAzRZD
  • 🇨🇳 FDI (YTD) YoY (MAR) Actual: 39.9% Previous: 31.5% https://www.dailyfx.com/economic-calendar#2021-04-15
New Zealand Dollar Poised to Gain as China GDP Likely to Impress

New Zealand Dollar Poised to Gain as China GDP Likely to Impress

Renee Mu, Currency Analyst
New_Zealand_Dollar_Poised_to_Gain_as_China_GDP_Likely_to_Impress_body_Picture_1.png, New Zealand Dollar Poised to Gain as China GDP Likely to Impress

New Zealand Dollar Poised to Gain as China GDP Likely to Impress

Fundamental Forecast for US Dollar: Bullish

The New Zealand Dollar continued its gains for the fifth consecutive week, rallying by 1.7 percent against the Greenback. The kiwi was one of the biggest benefactors of the Bank of Japan’s aggressive asset purchase program, with the NZDJPY hitting a five year high on Thursday of 85.99.Investors appear content with purchasing the Kiwi given its relatively high yields and positive returns, in part due to the nation’s improving economic data. Also, this week sawa record-high unemployment report out of Australia, which helpeddrive traders to purchase the New Zealand currency. Looking forward, the kiwi is likely to remain resilient amid an optimistic outlook concerning Chinese economic data.

Next week, China, the world’s second largest economy and New Zealand’s largest business partner, is expected to report that its economy grew at a faster pace over the most recent quarter. China’s Q1 Gross Domestic Product (YoY)is estimated to have expanded by 8.0 percent, the highest level since the first quarter of last year, according to a Bloomberg News Survey.Strengthened consumer spending and greater fiscal expenditures could help maintain China’s recovery in the first half of 2013. Based on the historical ties between the two countries, New Zealand should benefit greatly from a stable and growing Chinese economy.

In recent years, China has relied heavily on its exports and investment to spur strong growth, but the surprised March trade deficit may signal a key import shift. The surge in imports due to an increased demand for commodities indicates that domestic purchases are picking up and China is attempting to move away from export-led to import-led growth. This is good news for China’s business partners including New Zealand and Australia. A rise in demand for foreign goods by Chinese businesses and consumers should directly benefit New Zealand’s producers of goods and services. In addition, the same positive influence is reflected in the elaborate fundamentals of the Australian economy, which is New Zealand’s largest export market. Thus, the New Zealand market and the kiwi can benefit two-fold from an improved outlook in China.

In terms of the NZDJPY, traders will want to keep a close eye on the G20 summit in Washington next week, as it may discuss monetary policy actions that devalue nation’s currencies. Japanese Vice Finance Minister said in an interview that “we will explain that we are doing the utmost to beat deflation and that if it helps the Japanese economy recover, which would contribute to Asia and the world economy”. If Japan’s aggressive monetary policy wins the understanding of the world’s major economies, the Japanese Yen could continue falling against the kiwi. -RM

Bring the economic calendar to your charts with the DailyFX News App.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES