The New Zealand dollar was becalmed on Wednesday.
Bancorp Treasury Services senior client advisor Peter Cavanaugh says two pieces of information could move the currency.
He says one would be evidence that the Reserve Bank mortgage restrictions were taking effect which would take the heat off the housing market and lower expectations for official cash rate rises next year.
Mr Cavanaugh says the other information could be signs that the Federal Reserve could begin tapering of its bond buying at its December meeting rather than in the new year.
"Both of those would put downward pressure on the New Zealand dollar, firstly through low interest rates in New Zealand, secondly through high interest rates and the Federal Reserve seeing positive US economic growth and recovery."
At about 5pm on Wednesday, the kiwi was trading at 82.32 US cents, 88.42 Australian cents, 51.8 British pence, 0.6123 euro and 81.9 yen.
Rise in sharemarket
The benchmark Top 50 share index rose 3 points to 4919.
Tyndall Investment Management equities manager Rickey Ward says Wednesday's moves were very stock specific.
He says the likes of Fletcher Building and Mainfreight were the main drivers of Wednesday's strength and both companies are exposed to cyclical recovery.
Mr Ward says Mainfreight in particular has an exposure to the United States and Europe and a reasonable proportion of its earnings are likely to come from both those continents with clear evidence that the US and Europe are improving.
He says any signs of improvement should eventually flow through to the balance sheet of Mainfreight and that's not currently priced in.
Mr Ward says Fletcher Building is more of an Australasian recovery story.
Meridian shares move close to list price
Meridian's instalment receipts, which the Government sold at $1 each in last month's float with a further 60 cents per share due in 18 months time, fell as low as $1.01 before recovering to close at $1.045.
Tyndall Asset Management equities manager Rickey Ward says the selling was by international investors with the weakness compounded by a lack of local buyers.
Mr Ward says the talk is that international investors, who it's believed have become the marginal buyer, have become nervous as it's drifted off from the high of $1.10.
Mainfreight shares rose 25 cents to $12, Fletcher Building shares gained 23 cents to $9.68 and Meridian shares ended unchanged at $1.045.