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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:💶 ECB Guindos Speech due at 08:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-27
  • ECB PRESIDENT LAGARDE: - No new Euro debt crisis after pandemic, what matters is how borrowed money is spent - Not overly concerned about high debt levels #EUR #ECB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in US 500 are at opposite extremes with 76.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/01rko7aQXN
  • Heads Up:🇿🇦 Inflation Rate YoY due at 08:00 GMT (15min) Previous: 4.1% https://www.dailyfx.com/economic-calendar#2020-05-27
  • BoJ states that Break-even level for its ETF holdings is estimated to be around 18,500 for Nikkei stock average $JPY
  • ECB PRESIDENT LAGARDE: - Very hard to forecast how badly the economy has been affected - Very likely that the ECB's mild scenario is out of date, economy is likely somewhere between 'medium' and 'severe' scenarios #EUR #ECB
  • ECB's Lagarde says the ECB's mild growth scenario is already outdated
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.22% Silver: -0.67% Oil - US Crude: -2.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XmTaJNdAHm
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇨🇦CAD: -0.01% 🇳🇿NZD: -0.04% 🇨🇭CHF: -0.17% 🇪🇺EUR: -0.19% 🇬🇧GBP: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VzvKs7Fdm4
  • Heads Up:💶 ECB President Lagarde Speech due at 07:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-27
NZ Manufaturing Remains Expansionary Amid A Strengthening Kiwi

NZ Manufaturing Remains Expansionary Amid A Strengthening Kiwi

2013-04-10 23:12:00
Jason Shemtob,
Share:

THE TAKEAWAY: NZ’s Business PMI came in at expansionary levels for the 6th month in a row > Continual economic strength should further bolster the strong Kiwi, but rate cuts remain a concern > NZD Outlook: Bullish

New Zealand’s Business Performance of Manufacturing Index (PMI) came in at 53.4 for March, which while at an expansionary level is below February’s PMI level of 56. The Kiwi did not move much against the dollar following the data release, with the NZDUSD trading at .8585 as of this article’s release.

How does a Currency War affect your FX trading?

This is the 6th straight month that New Zealand’s Business PMI report has indicated growth within the country manufacturing industry. The Kiwi has been appreciating versus other majors currencies recently as investors appear keen to hold the interest bearing asset as interest rates provided by many other securities remain low. Over the last month, the New Zealand dollar is up over 4% versus the Greenback, 3.6% versus the Euro and well over 7% against the Yen. While today’s PMI number was below the previous month, continual expansion within New Zealand’s manufacturing industry should only cement demand for the currency. Moving forward investors should focus on potential rate cuts by the Reserve Bank of Australia should the currency appreciate further.

(NZD/USD 1 month Chart)

NZ_Manufaturing_Remains_Expansionary_Amid_A_Strengthening_Kiwi_body_Picture_1.png, NZ Manufaturing Remains Expansionary Amid A Strengthening Kiwi

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.