Last week was a mixed week for both the antipodean dollars. The Kiwi did better than the Australian dollar, strengthening by four fifths of a cent against sterling. It was less successful against the US dollar, losing a third of a cent.

With almost every currency investors were driven more by sentiment than by the economic statistics and, anyway, New Zealand data were few and far between. Westpac's quarterly survey found consumers a little less confident than they had been three months earlier. May's trade figures were better than expected: the expected deficit turned out to be a surplus, with exports rising by more than imports. 

Ecostats will be just as scarce in the coming week. The only two of any consequence to the Kiwi are building permits and business confidence, so sentiment is still likely to be a more important factor than the economic data