The New Zealand dollar did not move far today, paying little heed to domestic macroeconomic data released overnight. The start of the week is expected to be a slow one due to few notable events or macroeconomic releases scheduled for the first two days.

The Westpac McDermott Miller Consumer Confidence Index came out at the start of the Asian trading session, demonstrating a drop to 105.2 in the March quarter from 106.0 in the December quarter. The report noted that consumer confidence remains below average levels. It also said:

While households are feeling more secure about their personal Financial Situation, they are continuing to highlight concerns about the economy’s longer run trajectory. There are big differences in confidence levels across age groups. Notably, many younger New Zealanders are highlighting concerns about their financial situation.

Almost all sub-indices showed a decline. The current financial situation and the expected financial situation were an exception, posting gains this quarter.

There are just a couple of New Zealand macro reports scheduled for the rest of the week: credit card spending released tomorrow and the trade balance released on Wednesday. With no particularly important events expected in New Zealand itself, the kiwi will be reacting to the general market sentiment and events that will be affecting it.

NZD/USD rose from 0.7145 to 0.7158 as of 9:00 GMT today. GBP/NZD went up from 1.9352 to 1.9366, rebounding from the session minimum of 1.9323. NZD/CAD fell from 0.8952 to 0.8944, retreating from the session maximum of 0.8965.

© NewsInspector for Forex News, 2021. | Permalink | No comment | Add to del.icio.us
Post tags: Consumer Confidence, Dollar, GBP/NZD, New Zealand, NZD/CAD, NZD/USD, Westpac Banking Corp.

Feed enhanced by Better Feed from Ozh