All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD edges lower after creating double bottom in near term

Posted on January 24, 2019 at 9:37 am GMT

NZDUSD has retreated from the 0.6805 resistance level and the 38.2% Fibonacci retracement level of the downleg from 0.7390 to 0.6423, around 0.6794 after the pullback from the double bottom on 0.6705. The short-term bias looks negative as the MACD keeps losing ground with weak momentum above its trigger and zero lines, while the RSI seems to be making its way down towards the 50 neutral mark, risking a move to bearish territory. The 40- and the 20-simple moving averages (SMAs) at 0.6760 and [..]

European Open Preview – ECB meets, all eyes on Draghi; pound soars

Posted on January 24, 2019 at 8:36 am GMT

ECB decision and Eurozone PMIs will chart euro’s course today Pound soars to 11-week highs versus dollar as no-deal Brexit risk fades Aussie tumbles on mounting speculation for RBA rate cut Stocks inch higher on strong earnings, dollar rebound stalls ECB meeting & Eurozone PMIs could make-or-break euro/dollar today It will be a crucial session for European assets and the euro itself today. The European Central Bank (ECB) will announce its policy decision at 1245 GMT, which will be followed [..]

European Open Preview – Market sentiment stays fragile, but kiwi shines

Posted on January 23, 2019 at 9:05 am GMT

Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting those funds into safer plays, amid resurgent worries around global growth and trade uncertainties. News that the US will proceed with the extradition of the [..]

European Open Preview – IMF adds more clouds to global outlook

Posted on January 22, 2019 at 9:22 am GMT

IMF downgrades growth forecasts; stocks feel the pinch May keeps “no-deal Brexit” scenario alive Oil reverses lower amid signs of slowing global economy Risk appetite stays bearish amid growing global growth fears Stocks in Asia had another weak session on Tuesday as pessimism about global growth kept funds away from risky assets, with Chinese equities losing more than 1%. A couple of hours after China reported its slowest quarterly economic expansion since the financial crisis and the lowest annual growth in 30 years, the International Monetary [..]

New Zealand Q4 CPI to keep rate cut odds alive – Forex News Preview

Posted on January 21, 2019 at 2:16 pm GMT

New Zealand CPI figures will steal the spotlight on Tuesday at 2145 GMT to show that the headline inflation rate stretched lower in the fourth quarter, missing the central bank’s midpoint price target of 2.0% for 2018. That being so, and in consideration of the rising global risks, the Reserve Bank of New Zealand (RBNZ) will not rush to raise interest rates. According to analysts, in the three months to December, the headline Consumer Price Index (CPI) dropped by 0.9 percentage points relative to [..]

European Open Preview – Stocks extend trade gains; Brexit saga continues

Posted on January 21, 2019 at 8:48 am GMT

Reports China is willing to buy more US goods keep risk appetite buoyed Euro/dollar eyes key support area, looks to Thursday’s ECB meeting Today, focus turns back to the UK; PM May presents her alternative Brexit plan Fresh trade headlines propel stocks even higher, yen retreats US equity markets recorded another round of sizeable gains on Friday, with the likes of the S&P 500 (+1.32%) and the Dow Jones (+1.38%) establishing further distance above their respective 50-day moving averages. Meanwhile, [..]

Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]

European Open Preview – Trade hopes lift markets; pound cruises higher

Posted on January 18, 2019 at 8:40 am GMT

Stocks advance, safe-havens tumble on reports US could roll back China tariffs In the UK, sterling surges without Brexit news; sentiment is improving Today, Canadian inflation figures and Fed speakers may steal the show Stocks jump, yen softens on reports US may lift China tariffs Risk appetite firmed during the late US session on Thursday, following a WSJ report that US Treasury Secretary Mnuchin considered whether to lift the tariffs on Chinese products as a gesture of good faith during [..]

Technical Analysis – NZDUSD selling interest in progress; hits one-week low

Posted on January 17, 2019 at 9:15 am GMT

NZDUSD is continuing this week’s sell off with strong momentum, reaching a one-week low around 0.6730 and at the same time confirming the start of a bearish movement. The short-term bias looks negative as the MACD keeps losing ground below its red trigger line, while the RSI seems to be making its way down beneath its 50 neutral mark, moving towards the oversold territory. The 0.6705 could be a critical level for steeper bearish actions if the pair continues the negative tendency. Also, the 0.6670 could attract some [..]

European Open Preview – Pound yawns as May survives; risk appetite shaky

Posted on January 17, 2019 at 8:45 am GMT

Theresa May survives the no-confidence vote, but sterling barely advances News the US will pursue a criminal case against Huawei are hurting sentiment Dollar extends gains versus euro as ECB officials sing a dovish tune May survives no-confidence vote, but sterling yawns Theresa May’s government survived the no-confidence motion in the House of Commons yesterday via a 325-306 vote, as was broadly expected. The Prime Minister immediately stated she will reach across the aisle and attempt to find common ground [..]

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