NZD

NZ data: May Exports NZD 6.99bn (prior 6.8bn) & Imports 6.95bn (prior 6.38bn)

• New Zealand trade balance data for May 2023

NZDUSD buyers try to take more control, but has work to do

• The lows today stalled ahead of the 200 day MA

New Zealand fin min Robertson says Economic environment remains challenging

NZDUSD sellers in charge today, but bounces and retests MA resistance.

• Watch the 200 hour MA at 0.61658

NZDUSD Technical Analysis

• The NZDUSD maintains a bullish bias.

New Zealand Treasury say domestic demand is being dampened by high interest rates

New Zealand data - Q2 consumer confidence 83.1 (vs. prior 77.7)

ANZ recommends buying AUD/NZD on dips, anticipates USD/JPY to fade gains

• AUD/USD trades at 1.1041 today

New Zealand PM Hipkins to meet Chinese President Xi in Beijing, in late June

New Zealand May Services PMI 53.3 (prior 50.1)

NZDUSD Technical Analysis

• The weakness in the USD has led to a big rally in the NZDUSD pair.

New Zealand Manufacturing PMI (May) still in contraction at 48.9 (prior 48.8)

NZDUSD retraces Asian/European declines and extends back above 100 day MA

• 100 day MA at 0.6221. Close risk for buyers now.

New Zealand Q1 GDP -0.1% q/q (expected -0.1%)

New Zealand Q1 economic growth (GDP) data due soon - preview