By ForexMansion.com

 

The New Zealand dollar has appreciated last week versus its major counterpart the greenback, due to the investors preferred to buy higher yielding currencies, on speculation of the Japanese economy will keep its benchmark interest rate to help the economy to support the economy along with the market has witnessed a good sentiment, encouraged investors to increase their investment.

The New Zealand currency rose versus its all major counterparts last week, as the New Zealand economy posted its first trade balance surplus in eight months during the month of February after the record-high commodity prices boosted exports of milk powder and lumber.

Amid the aftermath of the worst earthquake in 80 years, the Reserve Bank of New Zealand (RBNZ) decided to cut the benchmark interest rates by 50 basis points to a record low of 2.50%, also it decided to fix the rates at its lowest level until next year, to support economic recovery.

The Kiwi is forecast to rise this week, affected by the China’s manufacturing that grew at a faster pace last month and as Asian stocks reversed earlier losses.

Moreover, The NZ dollar recorded the highest level in more than 4 weeks, supported by Aussie’s upside movement, as the relationship between the two currencies.

Major highlights for this week that will burden the AUD/USD pair’s trading:

All times are GMT

 

Monday April 4

The New Zealand economy will present its ANZ commodity prices reading for the month of March at 03.00, where the previous reading came out at 2.7%, also it is the NZIER’s Quarterly Survey of Business Opinion at 22.00, while 4th quarter reading came at 8.

 

Tuesday April 5

At mean time, the US economy will present its ISM Non-manufacturing index for March at 14.00, while the prior reading released with an actual 59.7; note this index shows the business conditions in the US non-manufacturing sector, so the traders are very caring for it. While the Federal Open Market Committee (FOMC) to issue its minutes at 18.00.

 

Wednesday April 6

The New Zealand economy won’t release any fundamental data, but the US economy will present its crud oil inventories.

 

Thursday April 7

The US economy will issue its initial jobless claims, while the economy has added 388000 workers in a previous month, which is a measure of the number of people filing first-time claims for state unemployment insurance.

 

Friday April 8

The US economy will end the week by issuing its wholesale inventories index for the month of February that forecasted to show an incline by 1.2%, more than a previous reading 1.1% in January. 

Originally posted here