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NZD Bulls Pushing for Greater Gains as New Zealand are to Lift All Coronavirus Restrictions


New Zealand’s Prime Minister Jacinda Ardern announced that all the restrictions measures that were put in place in the country, on the back of coronavirus, be lifted from Tuesday. Arden cited that the virus had been eliminated from the country.

The PM in a news conference added that the country would move to national alert level 1 from midnight. Further detailing that public and private events can go on without restrictions, retail and hospitality sectors can operate normally, and all public transport can resume.


What does this mean for NZD?


The New Zealand Dollar has already been gaining within recent weeks, given the strong tone of risk appetite in the markets. Bulls were already driving the NZD to the north, following the initial easing of restrictions and no sign of a second wave of covid-19. It is important to note, New Zealand was the very first major economy to start gradually getting the economy back up and running again. It is one of the top countries to contain and deal with the global pandemic.


Given all the above noted, this has provided NZD with that edge versus a number of its peers. Specifically observing NZD/USD, it has gained almost 600 pips or 10% within the last three consecutive weeks in the green. Further moves to the north are still very much eyed, with any dips to remain attractive to buy in our view.

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