New Zealand’s trade deficit is forecast to shrink by a massive 466 million to -100M if forecasts are correct for 10.45pm GMT on Sunday 26th March. That should set the mood for this week’s Kiwi trading, but the highlight will actually be the ANZ Business Confidence index, out Wednesday 1am GMT. Plan your week’s trade around it.
Business Confidence has been in the doldrums for months though it perked up in February, climbing to -19 (the best it’s been since last September – it’s been seriously depressed). The range of opinions about where it goes from here could be down to who’s wearing their rose-tinted glasses, but a slim majority of pundits see another drop this week. The threat of Trump’s trade war with China would put New Zealand in the middle and NZD could be turbulent.
While that doesn’t sound great, turbulence can bring its reward if you judge the market mood well and play it right. Are you going to play minute by minute or across the week? Options, options. Currency trading can certainly be fun.