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NZDUSD

Analysis

Analysis - 4 days ago

Technical Analysis – NZDUSD bears try to escape a range

NZDUSD has been trading sideways for more than a yearBears try to push below the key support of 0.5855RSI and MACD detect bearish momentumFor the outlook to brighten, a move above 0.6220 may be neededNZDUSD has been falling since September 30, when it hit resistance near the 0.6370 zone, which stopped the bulls back in December 2023 as well. Overall, though, most of the price action had been contained between the 0.5855 and 0.6220 zones since July 2023, suggesting a neutral broader outlook.That
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Analysis - 1 week agoNeutral

Technical Analysis – NZDUSD gets closer to a new 2024 low

NZDUSD continues its sell-offPost-US election reaction dictates price actionMomentum indicators have turned bearishNZDUSD is edging lower again today, recording its fifth consecutive red candle, and keeping the bearish trend from the September 30, 2024 trendline intact. NZDUSD has easily broken below the key October 24, 2023 ascending trendline, and it is now trying to achieve a daily close below by the 0.5870 level. The latest move is the combined result of the US presidential election boosti
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Analysis - 1 week ago

Daily Comment – Dollar extends gains, bitcoin soars but stocks lose momentum

Tariff fears weigh on euro and other majors, dollar continues to climbBitcoin and Wall Street hit new records but broader equities stumble   Gold unable to get a boost from Trump picking hawks for this team   Trump trade still powering the marketsSpeculation about the expected impact of Donald Trump’s policies continues to dominate the market theme, as investors await details about who will be in Trump’s cabinet.
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Analysis - 2 weeks ago

Week Ahead – US CPI to shift market focus back to data after Trump shock

After Trump comeback, normality to return to markets with US CPIGDP data from UK and Japan to also be importantBut volatility to likely persist as markets assess impact of Trump 2.0US CPI eyed as rate cut bets fade after Trump winDonald Trump’s historic return to the White House was met with a euphoric response by the markets. Wall Street and Bitcoin rallied to record highs, while the US dollar skyrocketed to 4-month highs.
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Analysis - 3 weeks ago

Week Ahead – US election draws all eyes, Fed, RBA and BoE meet

Traders lock gaze on Tuesday’s US electionTrump and Harris battle neck and neck in final stretchFed to decide whether to cut interest ratesRBA and BoE decisions are also on next week’s agendaThe US dollar flexed its muscles lately on the back of upbeat data suggesting that there is no need for the Fed to deliver another bold 50bps rate cut at the remaining gatherings of the year, but also due to increasing market bets that Donald Trump will return to the White House.It’s US election time!T
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Analysis - 1 month agoNeutral

Daily Comment – Stocks under pressure by chipmakers, pound slips on CPI drop

Chip stocks hit by selloff after ASML cuts 2025 guidanceDollar stretches gains as pound and kiwi fall on lower inflationOil steadier amid ongoing ME drama, gold heads towards fresh recordChip and AI stocks take a diveEquity markets suffered a setback on Tuesday after Dutch semiconductor giant, ASML, sparked panic about the demand outlook for chips when it accidentally published its earnings report a day early.
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Analysis - 1 month agoBearish

Technical Analysis – NZDUSD opens the way for more losses

NZDUSD hovers beneath 200-day SMAStochastic and RSI maintain downside momentumNZDUSD has found strong resistance near the 200-day simple moving average (SMA) at 0.6090, diving towards the previous bottom of 0.6050.According to technical oscillators, they both confirm the recent bearish structure. The stochastic is heading south, ready to post a bearish crossover within its %K and %D lines, while the RSI is pointing slightly down below the neutral threshold of 50.Diving further, the price could t
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Analysis - 1 month agoNeutral

Daily Comment – Dollar edges up, stocks muted as China stimulus underwhelms

China announces more stimulus details but no word on size of packageAttention turns to week’s other events as stocks unimpressedEuro and pound flat as ECB decision and UK CPI awaitedChina pledges more support, stocks steadyChinese officials unveiled more measures to shore up the country’s embattled property sector while also pledging further support for businesses and consumers in two separate announcements on Saturday and Monday.
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Analysis - 1 month agoNeutral

Week Ahead – ECB headed towards another cut, CPI on the agenda elsewhere

The ECB is expected to deliver its first back-to-back rate cut on ThursdayCPI data incoming in Canada, China, Japan, New Zealand and UKChina GDP and US retail sales also high on investors’ radarIs an ECB rate cut a done deal?Following the RBNZ, which cut interest rates by 50 basis points this Wednesday, the central bank torch will be passed next week to the ECB.
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Analysis - 1 month agoNeutral

Daily Comment – Dollar seeks direction amidst tepid market conditions

Fed speakers and minutes in the spotlight todayDollar’s rally pauses, but oil and gold suffer lossesRBNZ cuts rates by 50bps, kiwi weakensChina schedules another press conference as local stocks plungeFed members continue to support a November rate cutThe public discussion regarding the Fed’s next steps continues, as a plethora of Fed members are on the wires almost on a daily basis.
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Analysis - 1 month agoBearish

Technical Analysis – NZDUSD battles with 200-day SMA after RBNZ’s rate cut

NZDUSD continues the bearish correctionTechnical oscillators are mixedNZDUSD plunged significantly after the RBNZ’s decision to cut interest rates by 50 bps. The pair remained closed to the 0.6100 round number and is holding near the 200-day simple moving average (SMA), which is acting as a strong support level.The technical oscillators are showing some contradicting signals.
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Analysis - 1 month agoBearish

Technical Analysis – NZDUSD continues the strong selling interest near 0.6100

NZDUSD decreases more than 4% from 0.6370Price posts the 6th straight red dayStochastics and RSI suggest some upside retracementNZDUSD slipped towards the 0.6100 area, raising worries that the pullback from the 15-month high of 0.6370 could gain more legs. The pair has been losing more than 4% over the last six trading sessions, with immediate support coming from the 200-day simple moving average (SMA) at 0.6095.Any additional declines could remain attractive to traders with the next support lev
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Analysis - 2 months agoNeutral

Daily Comment – Risk appetite ebbs as markets fret over China stimulus, Fed rate cuts

Risk sentiment dented as China refrains from fresh stimulus measuresFed officials give cautious green light to more rate cutsDollar and equities turn lower after recent gains as US CPI awaitedMarkets consolidate as China announcement disappointsOptimism about China’s newfound love for bold stimulus policies faded slightly on Tuesday as a much-anticipated press briefing by the country’s National Development and Reform Commission (NDRC) ended without any significant new measures being announce
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Analysis - 2 months agoNeutral

Weekly Technical Outlook – USDJPY, NZDUSD, Oil

USDJPY flirts with August’s high after NFP boost; US CPI figures awaitedNZDUSD takes a breather after freefall; RBNZ to deliver a double rate cutWTI oil futures back on the rise as geopolitics worsen; next resistance at 77.16US CPI inflation --> USDJPY  Friday’s nonfarm payrolls report was a strong beat. US jobs growth rose at the fastest pace in six months in September, the unemployment rate fell to 4.1%, and wage growth edged up, leaving investors no option other than to dismiss the
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Analysis - 2 months agoNeutral

RBNZ policy meeting: 25 or 50 bps rate cut? – Preview

RBNZ decision could shake kiwi/dollarAs inflation ticks lower, another rate cut is expectedPolicy meeting takes place on Wednesday at 01:00 GMTRBNZ decision to cut ratesThe Reserve Bank of New Zealand is poised to make another rate cut on Wednesday. The RBNZ is expected to follow the Federal Reserve with a half-point cut, as the pressure to reduce real rates at a faster tempo is being exacerbated by a sluggish activity picture and lower inflation.
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Analysis - 2 months agoBearish

Technical Analysis – NZDUSD plummets beneath 0.6200

NZDUSD loses significant groundStochastic suggests oversold marketRSI still falls furtherNZDUSD has been plunging below 0.6200 since it peaked at 0.6380, losing almost 3% and penetrating the short-term uptrend line to the downside. The stochastic dived towards the oversold region but is currently ticking marginally higher, suggesting the end of the
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Analysis - 2 months agoNeutral

Week Ahead – As the dollar recovers, spotlight falls on US CPI inflation

US CPI data to guide Fed rate cut bets and the dollarRBNZ expected to cut interest rates by 50bps Wounded pound awaits monthly GDP numbersCanada jobs data and BoC business survey also on tabDollar rebounds on safe haven flows and upbeat dataThe US dollar staged a meaningful recovery this week aided by Fed Chair Powell’s remarks that the US central bank would likely stick with quarter-point rate cuts, adding that they are not “in a hurry”, as new data have bolstered their confidence in the
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Analysis - 2 months agoBearish

Technical Analysis – NZDUSD retreats below short-term uptrend line

NZDUSD pulls back from its 15-month topStochastic tumbles to oversold regionRSI falls near 50 levelNZDUSD lost more than 2% following the pullback from the 15-month high of 0.6380, flirting with the short-term ascending trend line and the 20-day simple moving average (SMA).In the previous days, the 50- and 200-day SMAs posted a bullish crossover, but the market is currently retreating, taking the technical oscillators lower.
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Analysis - 2 months agoNeutral

Daily Comment – PCE inflation corroborates dovish Fed bets

Softer PCE data keep chances of another 50bps Fed cut elevatedFed Chair Powell speaks, ISM PMIs and NFP on this week’s agendaYen rally pauses after Ishiba says policy should stay accommodativeAussie, kiwi and Chinese stocks celebrate PBoC’s measuresMarket assigns decent chance for back-to-back 50bps Fed cutThe dollar slipped against most of its major peers after Friday’s data revealed that the headline PCE price index slowed more than expected in August, although the more important core PC
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Analysis - 2 months agoNeutral

Week Ahead – NFP on tap amid bets of another bold Fed rate cut

Investors see decent chance of another 50bps cut in NovemberFed speakers, ISM PMIs and NFP to shape rate cut betsEurozone CPI data awaited amid bets for more ECB cutsChina PMIs and BoJ Summary of Opinions also on tapWill the Fed opt for a back-to-back 50bps rate cut?Although the dollar slipped after the Fed decided to cut interest rates by 50bps and to signal that another 50bps worth of reductions are on the cards for the remainder of the year, the currency traded in a consolidative manner this
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