All Articles Tagged - NZDUSD

Daily Market Comment – Markets in mayhem as US hits China with new tariffs

Posted on August 26, 2019 at 8:17 am GMT

Risk aversion back in play as Washington escalates trade war But risk-off moves reverse on Monday after Trump calms spirits, for now US durable goods orders today eyed for signs of investment slowdown Yen soars, stocks crumble as trade war intensifies to a new level Trade fears continue to wreak havoc in global markets, with risk aversion making a sharp comeback on Friday after Washington and Beijing exchanged another round of retaliatory tariffs, escalating the trade war to a whole [..]

Daily Market Comment – Powell speech awaited as Fed hawks come out; pound jumps on Brexit hopes

Posted on August 23, 2019 at 8:12 am GMT

Markets await Powell’s Jackson Hole speech amid signs of resistance to further rate cuts US dollar holds firm as Treasury yields extend rebound; gold drifts lower Pound swings higher after Merkel and Macron boost Johnson’s chances of backstop changes All eyes on Jackson Hole Traders’ focus will centre on Fed Chairman Jerome Powell today when he makes his key address at the Jackson Hole Economic Symposium at 14:00 GMT. Speculation as to how dovish Powell’s speech will be have intensified [..]

Technical Analysis – NZDUSD revisits 42-month low; buyers and sellers disagree

Posted on August 22, 2019 at 9:51 am GMT

NZDUSD continued the trickle downwards to retest the forty-two month low of 0.6376, after failing to overcome the past inside swing resistance of 0.6487 from June 14. The bulls came on board and pushed the pair back above the 0.6376 level, something also reflected in the RSI, which shows negative momentum decreasing. Despite the RSI’s view, the MACD has declined below its red trigger line suggesting the negative outlook could return. Furthermore, the 50-, 100- and 200-period simple moving averages [..]

Daily Market Comment – Dollar up after Fed minutes highlight divisions; ECB minutes next

Posted on August 22, 2019 at 8:14 am GMT

US dollar edges up after FOMC minutes shows Fed is split over rate cuts Yuan slips to 11-year low as growth worries resurface ECB minutes and Eurozone PMIs next in focus; euro subdued Fed minutes cast doubt on aggressive easing The minutes of the Federal Reserve’s July policy meeting released yesterday have laid bare the extent of the divisions within the Federal Open Market Committee (FOMC) over the need for lower interest rates amid mixed signs about the health of [..]

Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]

Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 7:54 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]

Daily Market Comment – Hong Kong concerns keep risk aversion in play

Posted on August 13, 2019 at 7:57 am GMT

Safe havens shine and stocks retreat – mainly on fears about Hong Kong Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]

Technical Analysis – NZDJPY struggles for momentum after plunging to 6½-year low

Posted on August 12, 2019 at 3:24 pm GMT

NZDJPY is struggling to recover from its recent plunge to a 6½-year low of 67.56 as the pair once again finds itself testing the psychological 68 level, which could establish itself as a strong support zone. The momentum indicators are illustrating a weak rebound. The stochastics are heading up, but the %K line already appears to be losing steam and about to cross below the slower moving %D line. The RSI, meanwhile, has flatlined in oversold territory and is not [..]

Daily Market Comment – Sterling feels the burn; Trump plays trade ‘hardball’

Posted on August 12, 2019 at 7:55 am GMT

Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]

Technical Analysis – NZDUSD corrects higher after plunging to 3½-year low

Posted on August 8, 2019 at 2:58 pm GMT

NZDUSD fell aggressively and logged 180 pips early on August 7. But the latest trickle downwards lasted for nineteen days before the correction by buyers. They pushed the price up and into a sideways structure, slightly below 0.6473, which is the 23.6% Fibo retracement level of the down leg, from a three-and-a-half-month high of 0.6789 to a low of 0.6376. It is worth mentioning that the Tenkan-sen average has restarted moving down, agreeing with the 100-day simple moving average’s (SMA) [..]

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