All Articles Tagged - NZDUSD

New Zealand inflation may leave door open for monetary easing – Forex News Preview

Posted on July 15, 2019 at 1:16 pm GMT

The Reserve Bank of New Zealand (RBNZ) has clearly stated in June that further monetary easing might be needed over time to help the central bank to meet its inflation and employment objectives. On Monday at 2245 GMT the Consumer Price Index (CPI) report is likely to show that inflation has heated up in the second quarter, but not sufficiently to scrap the need for more stimulus. The headline CPI is forecast to rebound from 0.1% to 0.6% quarter-on-quarter in the April-June [..]

Daily Market Comment – Stocks aim for new records as Chinese data lift sentiment

Posted on July 15, 2019 at 8:24 am GMT

US stocks eye new record highs as earnings season begins Dollar pulls back as markets digest Powell’s cautiousness Kiwi outperforms on Chinese data, looks to crucial inflation numbers Solid Chinese data calm slowdown fears, boost risk appetite Global markets kicked off the week in a risk-on mood, with the major US stock indices set to open at new record highs and commodity currencies like the kiwi outperforming in the FX arena, following a batch of encouraging Chinese data. As expected, [..]

Technical Analysis – NZDUSD rallies near 23.6% Fibonacci; remains inside Ichimoku cloud

Posted on July 11, 2019 at 9:20 am GMT

NZDUSD continues to rise above the short-term moving averages, remaining inside the Ichimoku cloud, stretching its upward movement near the 23.6% Fibonacci retracement level of the upward wave from 0.6487 to 0.6725. According to the MACD, positive momentum could stretch into the short-term as the indicator picks up steam above its trigger line. The RSI is also hovering in the positive area but is flattening. In the positive scenario, where the price peaks above today’s high of 0.6670, a new top could be formed around the 0.6693 resistance level, [..]

Daily Market Comment – Dollar holds firm as Fed rate signals awaited; pound slips to 6-month lows

Posted on July 9, 2019 at 8:21 am GMT

Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]

Daily Market Comment – Dollar surges after strong US jobs report but stocks slide

Posted on July 8, 2019 at 8:06 am GMT

US dollar roars higher on surprise jump in US payrolls But stocks are sold off as investors trim expectations of aggressive Fed rate cuts Attention now turns to Powell’s semi-annual testimony in Congress for policy clues Strong US jobs report puts dollar back in the front foot The US dollar was trading close to Friday’s highs today when it surged on the back of a much better-than-expected nonfarm payrolls report. The US economy added 224k jobs in June, significantly higher [..]

Daily Market Comment – US payrolls could decide how deep Fed cuts in July

Posted on July 5, 2019 at 7:53 am GMT

US employment data today will be crucial for Fed rate-cut expectations and the dollar Canadian jobs figures also due, as loonie touches new 2019 high In Europe, bond markets continue to price in QE, but euro snoozes US payrolls may dictate how deep Fed cuts in July and dollar’s path After a relatively quiet session on Thursday, the spotlight will fall on the US employment data today. Markets are still pricing in a ~25% probability for a ‘double’ rate cut [..]

Technical Analysis – NZDUSD trades within sideways channel; SMAs post bearish cross

Posted on July 4, 2019 at 12:22 pm GMT

NZDUSD has been consolidating since June 26 within a narrow range of 0.6655 – 0.6718 and is currently hovering beneath the bearish crossover within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The near-term bias is looking neutral-to-bearish as the RSI is flatlining near the 50-neutral level, while the MACD is moving slightly lower below the trigger line in the positive zone, suggesting more downside pressure in the 4-hour chart. Should the pair pare some of the previous sessions’ losses, [..]

Daily Market Comment – US stocks sail into uncharted waters; loonie shines

Posted on July 4, 2019 at 7:47 am GMT

American equities soar to record highs, as ‘bad news is good news’ again Loonie advances to best levels this year on Fed-BoC policy divergence Trump calls for weaker dollar, but dollar yawns US stocks hit new records American equity markets sailed into uncharted waters yesterday, with all the major indices – the S&P 500 (+0.77%), Dow Jones (+0.67%), and Nasdaq Composite (+0.74%) – closing at new record highs. In a classic case of ‘bad news is good news for stocks’, [..]

Daily Market Comment – Lagarde to succeed Draghi at ECB; US data eyed

Posted on July 3, 2019 at 8:09 am GMT

Lagarde to take over ECB after Draghi; markets bet on more QE BoE’s Carney strikes dovish tone, drags pound down Oil retreats as traders ‘sell fact’ after OPEC US ADP jobs and ISM non-manufacturing to drive dollar today IMF’s Lagarde chosen as next ECB chief In an otherwise quiet session on Tuesday, the biggest piece of news was that EU leaders finally reached a consensus on who to nominate for the Union’s top jobs. German defense minister Ursula von der [..]

Daily Market Comment – RBA cuts, but aussie won’t stay down; dollar recovers

Posted on July 2, 2019 at 7:57 am GMT

RBA reduces rates again, but aussie remains unfazed Dollar recovers as July rate-cut bets are scaled back EU leaders resume talks over top jobs; Global PMIs due RBA cuts, but can’t keep the aussie down The Reserve Bank of Australia (RBA) slashed interest rates earlier today, for the second time in two meetings, indicating that the move will help reduce unemployment and boost inflation. The cut was widely signaled in advance and largely priced in ahead of the event, so [..]

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