All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD leads the pack as FOMC rate decision looms

Posted on September 18, 2024 at 2:00 pm GMT

NZDUSD bulls retake control; fight for a close above 20-SMA Short-term bias is positive, but there are more obstacles on the upside NZDUSD is a top performer today as investors are actively waiting for the Fed’s rate decision. The pair picked up positive momentum above its 20-day simple moving average (SMA) at 0.6195, which has been rejecting bullish actions over the past week. A close above this line might encourage more buying, but investors might need more progress to [..]

Daily Comment – Dollar and equities rebound from NFP-led losses as focus turns to US CPI

Posted on September 9, 2024 at 9:22 am GMT

US jobs report adds to slowdown fears but provides no clarity about Fed policy Dollar whipsaws while stocks tumble as ‘September effect’ takes hold But risk sentiment improves ahead of US CPI report and ECB decision Signs of optimism after NFP bloodbath Markets began the second week of September in a somewhat more upbeat mood as US slowdown jitters were put on hold even as inflation data out of China pointed to persistently weak demand in the world’s second-largest economy. [..]

Daily Comment – Equities weakness lingers as focus remains on US data

Posted on September 5, 2024 at 7:39 am GMT

Equities remain on the back foot as key US data on the menu today ADP, jobless claims and ISM Services could prove market moving Dollar’s mixed performance continues, yen benefits OPEC+ production rumours fail to push oil prices higher US data releases in the spotlight Equity markets continue to exhibit a rather unexpected fragility as second tier data like Wednesday’s JOLTs job openings resulted in another negative session in most stock indices around the globe. This market behaviour is a [..]

Technical Analysis – NZDUSD plunges from 8-month high

Posted on September 3, 2024 at 1:29 pm GMT

NZDUSD retreats with next support at 0.6130 Momentum oscillators step down NZDUSD has been declining considerably following the pullback from the eight-month high of 0.6298, erasing some of the gains of the previous week. The price may find first support at the 0.6130 barricade, ahead of the golden cross between the 20- and the 200-day simple moving averages (SMAs) at 0.6100. Slightly lower, the 50-day SMA at 0.6060 may pause the descending movement. On the other hand, a successful move [..]

Technical Analysis – NZDUSD flies to fresh 8-month peak

Posted on August 29, 2024 at 1:29 pm GMT

NZDUSD creates strong bullish wave in short-term 20- and 200-day SMAs ready for bullish cross Stochastic and RSI near overbought levels NZDUSD surged to a new eight-month high earlier in the day, continuing the strong buying interest that started on August 5. The price has increased around 8% and this upside movement is also confirmed by the potential golden cross within the 20- and the 200-day simple moving averages (SMAs). The momentum oscillators aren’t giving up the battle yet as long as they are still holding near [..]

Daily Comment – Nvidia earnings fail to buoy markets, focus turns to US data

Posted on August 29, 2024 at 8:51 am GMT

Nvidia slumps in after-hours trading as earnings don’t excite Equities mixed as attention turns to US data for direction Kiwi outperforms, euro slips on soft German and Spanish CPI figures No post-Nvidia boost for equities Nvidia’s much anticipated earnings results for the second quarter failed to deliver on the very high expectations even as the chip giant saw its revenue more than double from a year ago. Both revenue and earnings per share beat the consensus estimates and the company’s [..]

Technical Analysis – NZDUSD still bullish but rally looks overstretched

Posted on August 28, 2024 at 1:10 pm GMT

NZDUSD is up almost 5% so far in August Further gains are likely, but risk of near-term correction is high NZDUSD is trading near seven-month highs on Wednesday, as the pair continues its August bull charge. However, there appears to be some resistance in the 0.6250 area where the intersecting long-term descending trendline is providing additional friction. The technical indicators remain bullish but point to fading positive momentum in the near term. The stochastic oscillator has flatlined in the [..]

Daily Comment – Markets cautious as Nvidia earnings and key US data loom

Posted on August 28, 2024 at 8:09 am GMT

Dollar pauses slide as jobs and inflation data awaited Yen pulls back but hawkish BoJ signals keep it elevated Wall Street awaits Nvidia, oil retreats on demand worries Dollar awaits key data for direction The US dollar extended its slump against all its major peers on Tuesday, as in the absence of any top-tier data and shocking headlines, investors continued to digest Powell’s dovish stance at Jackson Hole. However, today, the dollar is in a recovery mode, perhaps as short [..]

Technical Analysis – NZDUSD hits fresh 2-month high

Posted on August 21, 2024 at 7:58 am GMT

NZDUSD stages a V-shaped recovery from 2024 low The pair jumps above 200-day SMA to its highest since June 14 Oscillators improve notably, suggesting increasing bullish bias NZDUSD has been steadily regaining ground since the beginning of the month after finding its footing at a fresh 2024 low of 0.5848. In the near term, the pair sliced through its 200-day simple moving average (SMA) to post a fresh two-month high on Wednesday. Should the recovery extend further, immediate resistance could be found [..]

Market Comment – Dollar under pressure ahead of Jackson Hole Symposium

Posted on August 20, 2024 at 7:54 am GMT

Stocks in the green again as investors await the Jackson Hole gathering Economists look for strong Fed easing in 2024 despite recession talk dissipating Dollar remains on the back foot against most currencies Aussie fails to benefit from hawkish minutes; loonie could suffer from weak CPI Stocks still in the green Stocks continue to enjoy green sessions as the market is counting down to Friday’s Jackson Hole speech by Fed Chairman Powell. Expectations for a dovish appearance are keeping equities [..]

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