All Articles Tagged - NZDUSD

Daily Market Comment – US earnings and data, China GDP propel stocks to fresh highs; dollar nears 8-month high vs yen

Posted on January 17, 2020 at 9:24 am GMT

China reports slowest annual growth in 29 years but signs of rebound at year-end Stocks climb to new records amid ongoing trade optimism and positive earnings String of upbeat data out of the US also boosts risk appetite China’s growth slows in 2019 but recovery could be underway Economic growth in the world’s second largest economy reached the slowest in 29 years according to GDP numbers out of China this morning. GDP expanded by 6.1% for the full year in [..]

Technical Analysis – NZDUSD maintains bearish picture in very short-term

Posted on January 16, 2020 at 7:48 am GMT

NZDUSD traded with losses over the last two weeks, following the pullback off the five-month high of 0.6754 and now, it is creating a downward sloping channel. Currently, the price is trading slightly above the short-term simple moving averages (SMAs) near the return line of the channel. The RSI on the 4-hour chart is missing direction in positive area, while the MACD oscillator is moving higher, approaching the zero line. Also, the red Tenkan-sen keeps flattening below the blue Kijun-sen line, reducing chances for [..]

Daily Market Comment – US stocks carve out new highs ahead of Nonfarm Payrolls

Posted on January 10, 2020 at 9:16 am GMT

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment report for December. Nonfarm payrolls (NFP) are forecast to clock in at 164k, less than the astounding 266k in November, but still a solid number [..]

Daily Market Comment – Oil crashes, stocks roar higher as geopolitical nerves calm

Posted on January 9, 2020 at 9:35 am GMT

Yen and gold slump, equities jump as US-Iran tensions take a back seat Dollar outperforms amid fading Fed rate-cut expectations – lots of Fed speakers today In Canada, BoC Governor Poloz delivers remarks and might strike a dovish tone Oil collapses alongside safe havens as worries of US-Iran war fade Global markets continued to price out the risk of an imminent all-out war between the US and Iran yesterday, amid signs that neither side is seeking further escalation. The fact [..]

Technical Analysis – NZDUSD’s decline off 2019 high turns sideways at 23.6% Fibonacci

Posted on January 9, 2020 at 9:10 am GMT

NZDUSD looks to have turned flat, confined between 0.6680 and 0.6616 over the last week, following the decline from the five-month high of 0.6754 for the end of 2019. The pair has found support within this range from the 0.6634 area, which is the 23.6% Fibonacci retracement of the up leg from 0.6239 to 0.6754 and where the 100-period simple moving average (SMA) currently is located. That said, the short-term oscillators suggest that negative momentum may be picking up. The [..]

Daily Market Comment – Iran attacks US bases, but risk aversion doesn’t last

Posted on January 8, 2020 at 9:16 am GMT

Safe havens spike higher, stocks drop as Iran hits US bases in Iraq Yet, risk aversion fades as both sides show little appetite for more escalation Meanwhile, dollar advances on healthy US data, aussie burned by wildfires Oil and gold jump, stock futures briefly dip after Iran strikes back Tehran didn’t take long to retaliate against the US assassination of its most powerful general, as overnight Iran attacked with ballistic missiles two military bases in Iraq that are hosting American [..]

Daily Market Comment – Geopolitical fears ease, but risk sentiment remains fragile

Posted on January 7, 2020 at 9:29 am GMT

Safe havens pull back, stocks recover as some geopolitical risk is priced out Alas, it might be only a matter of time before Middle East fears resurface – how will Iran retaliate? In economics, the ISM non-manufacturing PMI today may prove crucial for the dollar Yen retreats, stocks rebound as Middle East worries ease – for now Global risk appetite improved on Monday, with defensive currencies such as the Japanese yen surrendering some recent gains while US stocks recovered lost [..]

Daily Market Comment – Oil jumps, Mideast tensions rise after US air strikes kill Iranian commanders

Posted on January 3, 2020 at 9:15 am GMT

Tensions flare up in the Middle East after US air strikes kill Iran’s top military leader Oil prices shoot higher, stocks turn negative after the attacks Gold hits 4-month high, yen and Swiss franc soar US air strikes kill risk-on mood Heightened geopolitical tensions threatened to destroy the risk-on sentiment that’s been driving the markets since December after the United States launched air strikes in Iraq, killing top Iranian military officials. The US Defense Department said President Trump had ordered [..]

Technical Analysis – NZDUSD maintains its ascent, pushing for higher peaks

Posted on January 2, 2020 at 9:25 am GMT

NZDUSD opened below the support of 0.6722, after plotting a five-month high of 0.6754 for the end of 2019. The picture for the pair still looks strongly positive, with the Ichimoku lines and all simple moving averages (SMAs) sustaining their bullish crossovers and their upward slopes. The short-term oscillators lean towards the positive picture despite the recent weakening. The MACD, deep in the positive region, has slipped slightly below its red trigger line, while the RSI – though falling in the [..]

Daily Market Comment – Gold levitates higher, Wall Street and dollar retreat

Posted on December 31, 2019 at 9:09 am GMT

Gold freight train rolls past $1520, fueled by decline in dollar & Treasury yields US stocks pull back despite positive trade news – will Trump target the EU next? Have a great New Year! Gold extends gains on weaker dollar, lower yields A broad-based decline in the US dollar remains the dominant theme in the holiday-thinned FX market, even in the absence of any noteworthy headlines. The retreat in the greenback is ‘lifting all boats’, with the New Zealand dollar [..]

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