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
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
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Mixed
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
More View more
Real Time News
  • Tune in to @JMcQueenFX's #webinar at 1:45 AM ET/5:45 AM GMT for live coverage of the UK #GDP. Register here: https://t.co/bpZzPpx2yb https://t.co/buaGdvXIs7
  • 🇯🇵 Industrial Production YoY Final (MAY) Actual: -26.3% Expected: -25.9% Previous: -15% https://www.dailyfx.com/economic-calendar#2020-07-14
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/EoFBiVss6y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 74.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KEifgdky1z
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.11% 🇦🇺AUD: -0.01% 🇬🇧GBP: -0.02% 🇨🇭CHF: -0.04% 🇳🇿NZD: -0.10% 🇨🇦CAD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tdHfhlRoON
  • Heads Up:🇯🇵 Industrial Production YoY Final (MAY) due at 04:30 GMT (15min) Expected: -25.9% Previous: -15% https://www.dailyfx.com/economic-calendar#2020-07-14
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.09% Wall Street: 0.08% FTSE 100: -1.47% France 40: -1.61% Germany 30: -1.83% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8NLFFxuuXr
  • RBNZ Credit Conditions Survey - New Zealand banks report a decline in demand for credit during first half of 2020. - Banks indicate lending standards are likely to tighten.
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/OjTZOQEytM https://t.co/0KdF1bvOXW
  • 🇨🇳 Balance of Trade (JUN) Actual: $46.42B Expected: $58.6B Previous: $62.93B https://www.dailyfx.com/economic-calendar#2020-07-14
NZ PMI Up, But Central Bank Speculation Overshadows

NZ PMI Up, But Central Bank Speculation Overshadows

2013-03-14 22:07:00
Jason Shemtob,
Share:

THE TAKEAWAY: New Zealand’s Business PMI came in at an expansionary level for the 3rd straight month > Positive economic data likely overshadowed by Central Bank speculation > NZD/USD Outlook Neutral

New Zealand’s Business Performance of Manufacturing Index came in at a level of 56.3 for February, surpassing January’s level of 55.2 and marking the third straight month of expansion for New Zealand’s manufacturing industry. The Kiwi did not appear to react to the data release, but has been showing significant gains, alongside its Aussie neighbor, since the middle of 2012, due to demand for its relatively high interest yield.

New to FX? Watch this free introductory course.

Although the Business PMI report is certainly a positive sign for New Zealand’s overall economic health, it will likely be placed on forex trader's back burner in favor of the Reserve Bank of New Zealand’s recent rate decision and Governor Wheeler’s comments. While the nation’s central bank chose to maintain rates at their 2.5% level, statements made by Wheeler pointed to a more dovish monetary stance, as a result of the currency’s high valuation. In claiming that the country’s “strong currency may give scope for rate cuts” Wheeler has left the door open for future central bank action. This fact may hinder the New Zealand dollar from gathering too much forward momentum, even in the face of positive economic data, such as today’s PMI report.

NZD/USD (240 day chart)

NZ_PMI_Up_But_Central_Bank_Speculation_Overshadows_body_Picture_1.png, NZ PMI Up, But Central Bank Speculation Overshadows

Created by Jason Shemtob using MarketScope 2.0

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

DISCLOSURES

News & Analysis at your fingertips.