All Articles Tagged - NZDUSD

Forex Market Review (European Session) – Dollar holds strong despite Fitch raising debt ratio forecasts; euro dips further

Posted on November 7, 2017 at 4:38 pm GMT

Expectations that the Fed will proceed with a rate hike in December and an encouraging report on JOLTS job openings pushed the dollar higher during European trading hours, although Fitch raised its US medium-term debt-to-GDP forecasts. On the other hand, the euro was unable to find support on better-than-expected retail sales figures and despite the news that some key ECB officials opposed the central bank’s decision to continue buying assets until inflation improves. Fitch said on Tuesday that it expects a version of tax plans to pass the US Congress and push [..]

Forex News – Preview – RBNZ unlikely to reflect a shift in policy; potential dovish interpretation for dual mandate

Posted on November 7, 2017 at 2:51 pm GMT

The Reserve Bank of Zealand will tomorrow complete its meeting on monetary policy with the interest rate decision and monetary policy statement due at 2000 GMT. New Zealand’s central bank is not expected to deliver a significant shift in monetary policy, maintaining its official cash rate at the record low of 1.75%. Tomorrow’s meeting will also be the first with new Acting Governor Grant Spencer, who was assigned the role temporarily as the timing of the appointment coincided with the [..]

Forex Market Review (Asian Session) – Aussie gains little after RBA leaves rates unchanged; kiwi climbs on currency policy relief

Posted on November 7, 2017 at 8:33 am GMT

Early on Tuesday, the RBA decided to hold interest rates steady at record low levels, retaining its confidence on economic growth and the labour market. The aussie, however, posted short-lived gains following the policy statement as weak inflation continued to worry policymakers. Meanwhile, in New Zealand, the Finance Minister said that targeting the currency was not the new government’s monetary goal, lifting the kiwi higher for a while. In the wake of the RBA decision to keep rates at 1.5%, the aussie was [..]

Forex Market Review (European Session) – Pound gains on Brexit optimism; euro struggles despite robust economic data

Posted on November 6, 2017 at 4:30 pm GMT

During the European trading hours, the pound outperformed its peers as investors stood optimistic about Brexit developments, while the euro failed to find support on robust economic data out of the eurozone. With Brexit negotiations expected to resume on Thursday, the pound was on track to post gains for the second consecutive trading day supported mainly by encouraging remarks made by the British Prime Minister Theresa May in front of business leaders. May backed a deal on a transitional period crucial for businesses so as not [..]

Forex Market Review (Asian Session) – Dollar vs yen reaches 8-month high as BOJ’s Kuroda favors easy policy; oil pierces 2-year high

Posted on November 6, 2017 at 8:37 am GMT

The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid tightening markets and as anti-corruption measures took effect in Saudi Arabia. With the economic calendar lacking important data, the dollar index which gauges the dollar’s strength against a basket of major currencies was [..]

Week Ahead – RBA and RBNZ meetings to headline quiet week

Posted on November 3, 2017 at 2:43 pm GMT

The central bank theme will continue for a third week following the past fortnight’s policy meetings by the ECB, Bank of Japan, Fed and the Bank of England. This time, it will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand. Data-wise, the main focus will be on trade and industrial output figures from China, France, Germany, and the United Kingdom, as well as Chinese inflation numbers. Industrial output and trade data to [..]

Forex Market Review (Asian Session) – Dollar little changed ahead of jobs report; aussie loses ground on weak retail sales

Posted on November 3, 2017 at 8:29 am GMT

As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT. At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It yesterday fell to a one-week low of 94.41, perhaps on uncertainty related to US tax reform. Euro/dollar was 0.1% lower and not far below 1.1650. Dollar/yen was flat, a few [..]

Technical Analysis – NZDUSD makes corrective move higher to pause broader downtrend but upside momentum fades

Posted on November 2, 2017 at 10:03 am GMT

NZDUSD maintains its downtrend from the September 20 high of 0.7434 but downside momentum has paused at 0.6817. The short-term bias has shifted to the upside after a strong rebound lifted the pair to 0.6942 earlier today. There were bullish signals on the 4-hour chart, as the market is now trading above the 20 and 50-period moving averages. Oscillators are bullish leaning. Good support is expected on dips in the near term but if prices break below 0.6817 this would confirm the [..]

Forex Market Review (European Session) – Dollar and pound bolstered by upbeat data ahead of rate decisions

Posted on November 1, 2017 at 3:30 pm GMT

The prevailing risk-on mood ahead of key risk events in the next few days lifted the US dollar and weakened the yen in European trading on Wednesday. Upbeat economic data also boosted the greenback along with the British pound. The aussie and kiwi were other notable gainers, while the euro joined the yen in being the day’s worst performers. Manufacturing PMI out of the UK was the main data release in Europe. The index rose from an upwardly revised 56.0 [..]

Forex Market Review (Asian Session) – US dollar awaits barrage of key risk events; kiwi soars on strong employment numbers

Posted on November 1, 2017 at 8:17 am GMT

The dollar was little changed ahead of a very heavy calendar the next three days, while the kiwi staged an impressive rebound following the release of strong employment numbers out of New Zealand overnight. The US dollar was definitely going to be in focus for the rest of the week due to the Fed meeting that ends later today, the announcement of the Fed Chair nominee by President Trump tomorrow and the October employment report to be released on Friday. [..]

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