All Articles Tagged - NZDUSD

Market Comment – Dollar bounces back, stocks slip after US CPI beat

Posted on October 13, 2023 at 9:10 am GMT

Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the Fed is done hiking rates. The CPI measure of inflation edged up 0.4% month-on-month, beating forecasts of a 0.3% increase, while the annual figure was [..]

Week Ahead – US retail sales and UK CPI data enter the spotlight

Posted on October 13, 2023 at 8:32 am GMT

After US CPIs, US retail sales may also impact Fed hike expectations Will the UK inflation numbers increase the chances for another BoE hike? Aussie and Kiwi traders await Australia jobs report and New Zealand’s CPI China’s GDP could also impact those commodity-linked currencies Will retail sales allow the dollar to extend its recovery? The dollar traded on the back foot for the better half of this week due to dovish remarks by Fed officials who suggested that the surge [..]

Market Comment – Dollar extends slide on more dovish Fed remarks

Posted on October 11, 2023 at 8:14 am GMT

Fed’s Bostic and Kashkari join the ‘no more hikes needed’ camp PPIs and Fed minutes on tap ahead of tomorrow’s CPIs Aussie and kiwi helped by China stimulus reports Wall Street rebounds as Fed hike probability falls Fed dovish chorus grows louder The US dollar continued drifting lower against most of the other major currencies on Tuesday, as several Fed officials appeared in their dovish suits this week, signaling that they may not need to tighten as much as initially [..]

Technical Analysis – NZDUSD rally stops at key area

Posted on October 11, 2023 at 7:32 am GMT

NZDUSD trades sideways amidst geopolitical developments The current short-term upleg started when NZDUSD failed to break 0.5870 Momentum indicators are somewhat supportive of the current move NZDUSD is trading sideways today after registering five strong green candles. It tested the 0.5870 level multiple times during September, but it failed to break it thus fuelling the current short-term rally. It has now reached a key resistance area, a tad below the lower boundary of the February-August rectangle. Understandably, the focus is [..]

Market Comment – Oil jumps, safe havens gain as war erupts in Middle East

Posted on October 9, 2023 at 9:28 am GMT

Israel-Hamas war pushes up oil prices amid risk of wider conflict Dollar, yen and gold rise too as investors rush to safety Fed rate hike odds reverse NFP boost; US CPI, Fed speakers eyed next Middle East violence sparks turmoil Markets woke up to the worst flare-up of violence between Israel and Palestine in 50 years on Monday after Hamas launched surprise missile attacks into Israeli territory over the weekend. Oil futures initially shot up more than 5% as fears [..]

Technical Analysis – NZDUSD lingers near recent lows after RBNZ’s rate decision

Posted on October 4, 2023 at 12:13 pm GMT

NZDUSD loses ground after RBNZ rate decision Sellers could stay in charge; focus on 0.5830 NZDUSD opened slightly lower on Wednesday as the RBNZ kept interest rates unchanged but left some traders disappointed, providing vague indications about future rate hikes. With the RSI diving back below its 50 neutral mark and the MACD staying within the negative region, downside movements look more likely than upside ones in the short-term. A durable increase above the 20-day simple moving average (SMA) at [..]

Market Comment – Yen surges after possible intervention

Posted on October 4, 2023 at 8:19 am GMT

Yen spikes after breaching the 150-per-dollar mark Markets suspect intervention, but officials do not confirm Dollar charges higher on more upbeat US data Wall Street and gold suffer as dollar and yields extend rally Yen surges, stoking intervention speculation The yen was the sole major currency to end Tuesday with gains against the US dollar, unexpectedly and instantly surging after dollar/yen breached the 150 level. That barrier was closely monitored by traders and considered as the line in the sand, [..]

Weekly Technical Outlook – USDJPY, NZDUSD, Gold

Posted on October 2, 2023 at 2:16 pm GMT

USDJPY prints new highs; hawkish Fed signals required to boost rally Will RBNZ’s policy approach help NZD/USD to stage a bull run? Gold gets hammered by Treasury yields; bearish but oversold US Nonfarm payrolls –> USD/JPY US lawmakers passed a last-minute deal during the weekend to avert a government shutdown until mid-November. With fiscal risks moving temporarily out of the spotlight, the focus will turn back to interest rates as the US dollar is stubbornly trying to revive its uptrend [..]

Technical Analysis – NZDUSD challenges 50% Fibonacci after upward spike

Posted on September 29, 2023 at 1:15 pm GMT

NZDUSD marches higher, surpassing the 50-day SMA Battles with 50.0% Fibonacci retracement of the 0.5510-0.6535 upleg Momentum indicators tilt aggressively to the bullish side NZDUSD had been stuck in a downtrend after posting a five-month high of 0.6410 in mid-July, which ceased at a fresh nine-month low on September 5. Since then, the pair has been steadily gaining ground, with the short-term oscillators endorsing this latest advance. Should buying interest intensify further and the pair closes profoundly above the 50.0% Fibo [..]

Will the RBNZ opt for a hawkish hold? – Preview

Posted on September 29, 2023 at 10:57 am GMT

RBNZ expected to hold rates steady for the third straight meeting However, Q2 GDP data sparks hopes for another hike by year end Kiwi traders to look for changes in the Bank’s language The decision will be released on Wednesday at 01:00 GMT Stellar economic performance revives hike bets Back in August, the Reserve Bank of New Zealand (RBNZ) decided to maintain the Official Cash Rate (OCR) at 5.5%, adding that the current level of interest rates is constraining spending [..]

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