NZDUSD on Friday rose 0.59% to 0.61830. Week ending 2023-04-28 rose 0.77%. What happened.

NZDUSD Analysis

Friday0.59%36 Pips
Week 2023-04-280.77%47 Pips
April-1.18%-74 Pips

Upcoming key events for the new week (London Time)

Tue 11:45 PM NZD Employment Change
Tue 11:45 PM NZD Unemployment Rate
Wed 01:15 PM USD ADP Non-Farm Employment Change
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:30 PM USD FOMC Press Conference
Thu 01:30 PM USD Initial Unemployment Insurance Claims
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened over the week

🇺🇸 UoM 5-year Consumer Inflation Expectation in April exceed forecast and rose to 3% compared to previous figure 2.9% in March Source: University of Michigan
🇺🇸 Michigan Index of Consumer Sentiment in April unchanged at 63.5 points compared to previous report in March. The actual figure is also in line with the forecast Source: University of Michigan
🇺🇸 Personal Income (1-mth) in March unchanged at 0.3% compared to previous report in February. Source: Bureau of Economic Analysis
🇳🇿 ANZ – Roy Morgan Consumer Confidence in April rose to 79.3 points compared to previous figure 77.7 points in March
🇺🇸 Pending Home Sales (1-mth) in March rose to 0.8% compared to previous figure 0.8%.
🇺🇸 Core Personal Consumption Expenditures (3-mth) in Q1 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 4.4% in Q4 Source: Bureau of Economic Analysis
🇺🇸 GDP Annualized in Q1 preliminary estimate below forecast and dropped to 1.1% compared to previous figure 2.6% in Q4 Source: Bureau of Economic Analysis
🇺🇸 In the week ending 22 April, the Initial Unemployment Insurance Claims dropped to 230K compared to previous figure 245K Source: Department of Labor
🇺🇸 Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Source: Census Bureau
🇳🇿 Trade Balance NZD (12-mth) in March exceed forecast and dropped to -16.4$ compared to previous figure -15.72, revised from -15.64$ in February Source: Stats NZ
🇳🇿 Imports in March rose to 7.78$ compared to previous figure 5.86, revised from 5.95$ in February Source: Stats NZ
🇺🇸 New Residential Sales (1-mth) in March exceed forecast and rose to 0.683M compared to previous figure 0.623, revised from 0.64M in February Source: Census Bureau
🇺🇸 Housing Price Index (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.1, revised from 0.2% in January
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.

NZDUSD Daily Chart by TradingView

What can we expect from NZDUSD for the new week and what happened on Friday?

NZDUSD on Friday rose 0.59% to 0.61830. Price is above 9-Day EMA while Stochastic is rising in oversold zone. For the week ending 2023-04-28, the pair rose 0.77% or 47 pips higher.

Looking ahead on Monday, NZDUSD looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.61872 or at least consolidates above Weekly Pivot level of 0.61600. On the downside, we are looking at week low 0.61097 or 0.61327 (WS1) as immediate support level. NZDUSD need to break on either side to indicate a short-term bias. A break above 0.61872 would suggest bullish bias after recent positive movement.

For the month of April, NZDUSD is down by -1.18% or -74 pips lower.

Weekly key levels to watch out:

Weekly Pivot0.61600

You might also be interested in:

Gross Domestic Product, First Quarter 2023 (Advance Estimate) Source: Bureau of Economic Analysis
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
New Home Sales Source: Census Bureau
Monthly trade balance was a deficit of $1.3 billion Source: Stats NZ

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