New Zealand Dollar Rises on Robust Domestic Data; Market Awaits BoJ's Pivotal Decision
| Action Insight Daily Report 12-18-23 |
New Zealand Dollar Rises on Robust Domestic Data; Market Awaits BoJ's Pivotal Decision |
New Zealand Dollar strengthens broadly in an otherwise quiet Asian session today, leading Aussie along with it. This notable rise can partly be attributed to two key domestic factors: a significant improvement in consumer sentiment and robust data from the country's services sector. In the broader context, Kiwi's strength is also accentuated by monetary policy landscape. Unlike major central banks such as Fed and ECB, which are grappling with the prospect of rate cuts, RBNZ is not expected to follow a similar path through 2024. This divergence in policy direction sets the stage for the Kiwi to outperform Dollar and Europeans, at least in the short term... |
EUR/JPY Daily Outlook Daily Pivots: (S1) 154.53; (P) 155.29; (R1) 156.72; More.. Intraday bias in EUR/JPY stays neutral as consolidation from 153.15 is extending. Outlook will stay bearish as long as 157.67 resistance holds. Break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 20:00 | NZD | Westpac Consumer Survey Q4 | 88.9 | 80.2 | | 21:30 | NZD | Business NZ PSI Nov | 51.2 | 48.9 | 49.2 | | 09:00 | EUR | Germany IFO Business Climate Dec | 87.8 | 87.3 | | 09:00 | EUR | Germany IFO Current Assessment Dec | 89.5 | 89.4 | | 09:00 | EUR | Germany IFO Expectations Dec | 85.8 | 85.2 | | 13:30 | CAD | New Housing Price Index M/M Nov | 0.10% | 0.00% | | 15:00 | USD | NAHB Housing Market Index Dec | 37 | 34 |
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