All Articles Tagged - NZDUSD

Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:57 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

Technical Analysis – NZDUSD continues selling interest; next support at uptrend line

Posted on July 25, 2019 at 11:31 am GMT

NZDUSD is on course for weekly losses, dropping into the Ichimoku cloud and creating a ten-day low around 0.6685. The RSI in the 4-hour chart continues to drop in the bearish area, while the red Tenkan-sen keeps moving below the blue Kijun-sen line, increasing chances for a meaningful selling interest in the short-term trading. Also, the stochastic oscillator entered the oversold zone and is still heading lower. Should the price edges down, the 38.2% Fibonacci retracement level of the upleg from 0.6487 to 0.6790 near [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:10 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 7:48 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 7:47 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 7:40 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:00 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]

Technical Analysis – NZDUSD violates double bottom pattern; bulls back into play

Posted on July 18, 2019 at 6:57 am GMT

NZDUSD successfully surpassed the long-term 200-day simple moving average (SMA), gaining some ground and is holding near the three-month high of 0.6745 that it posted on Wednesday. The double bottom formation that was created around the 0.6480 – 0.6490 support levels with a neckline at the 0.6725 barrier, was completed with today’s break to the upside. From the technical point of view, the Relative Strength Index (RSI) is rising in the positive territory, approaching the overbought zone, while the MACD [..]

Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 7:48 am GMT

Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]

Daily Market Comment – US retail sales & Powell’s remarks to set the tone

Posted on July 16, 2019 at 7:55 am GMT

US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, in the absence of any noteworthy US news to drive the price action. That may change today though, with the release of the nation’s retail [..]

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