All Articles Tagged - NZDUSD

Market Comment – Markets perk up as soft PPI sets the tone ahead of US CPI

Posted on August 14, 2024 at 8:36 am GMT

Stocks perk up after soft US producer prices, all eyes now on CPI report Kiwi slumps after RBNZ cuts rates and signals more to come Pound also slips on weaker-than-expected UK inflation data Gold holds near record high as dollar skids, ME tensions mount Mood brightens ahead of US CPI data The rebound in equity markets gained further traction on Tuesday after US producer prices rose less than expected in July, raising hopes that today’s report on consumer prices will [..]

Technical Analysis – NZDUSD hits a wall at the 200-day SMA

Posted on August 14, 2024 at 7:38 am GMT

NZDUSD had been in a recovery mode since early August But 200-day SMA rejects advance after dovish RBNZ meeting Oscillators deteriorate, yet remain neutral-to-positive NZDUSD had been steadily regaining ground since the beginning of the month after finding its footing near the previous 2024 low of 0.5851 registered in April. However, the rebound paused at the 200-day simple moving average (SMA), with the bears getting aided by a dovish RBNZ rate decision on Wednesday. Should the recent spike to the downside [..]

Technical Analysis – NZDUSD at key resistance area ahead of the RBNZ

Posted on August 13, 2024 at 1:46 pm GMT

NZDUSD continues to climb higher Strong reaction following the recent correction Momentum indicators are turning bullish NZDUSD is trading higher again today, recording its ninth green candle in the past 11 sessions and cancelling out almost completely the recent correction. The overall sentiment has improved following last week’s rout with the market now focusing on the RBNZ meeting held during tomorrow’s Asian session. There are strong market expectations for a rate cut but economists point to a possible postponement of [..]

Market Comment – Stocks edge up in calm before the storm

Posted on August 13, 2024 at 8:18 am GMT

Stocks edge higher as gold benefits from geopolitical risks Pound rallies despite shock claimant count change French political issues return to the foreground RBNZ meeting could lead to significant kiwi underperformance Stocks edge higher as gold climb continues It was another uneventful session yesterday with most stock indices continuing to recover from last week’s rout. Not much has changed from last week as the market and most investment houses are still looking for a strong Fed rate cut in September. [..]

Will the RBNZ start cutting rates sooner than later – Preview

Posted on August 12, 2024 at 11:44 am GMT

RBNZ could keep interest rates steady but signal easing sooner rather than later Economic picture shows signs of stress but no red flags yet NZDUSD approaches 0.6060-0.6080 resistance territory NZ employment data sway rate cut bets Q2 employment data from New Zealand exceeded the forecasts, leading to a reevaluation of rate cut expectations and a subsequent bullish movement in NZDUSD. However, the odds have since increased and now strongly indicate a 25bps rate reduction. Market pricing also implies two more similar rate reductions by year-end. On the [..]

Week Ahead – US CPI to test market nerves, RBNZ might cut rates

Posted on August 9, 2024 at 10:38 am GMT

Market turmoil has eased, but will US CPI stir things up again? Crucial week for sterling as UK CPI, GDP and retail sales on the way The RBNZ is edging closer to a rate cut, but will it be next week? Japanese GDP, Australian jobs and Chinese data eyed too US economy worries take front and centre The panic about the US economy being on the verge of a recession has mostly eased but markets remain jittery. Investors see a [..]

Market Comment – Sentiment improves after drop in US jobless claims

Posted on August 9, 2024 at 8:27 am GMT

US dollar gains as data ease further recession concerns Aussie benefits the most, also helped by RBA’s Bullock Wall Street rebounds, oil and gold gain as well Jobless claims drop the most in nearly a year The US dollar ended Thursday mixed against the other major currencies, even though it received a boost from the better-than-expected initial jobless claims for last week. The greenback held onto gains against the safe-havens yen and franc, while it surrendered to the risk [..]

Midweek Technical Look – GBPUSD, NZDUSD, Oil

Posted on August 8, 2024 at 1:21 pm GMT

GBPUSD retains bearish bias as key support region comes under the spotlight NZDUSD charts bullish double bottom pattern as RBNZ rate decision awaited WTI oil futures rotate higher after touching important pivot area [..]

Technical Analysis – NZDUSD is a top performer today

Posted on August 7, 2024 at 1:34 pm GMT

NZDUSD exhibits strongest day in three months, backs double bottom formation Technical signals are on the bullish side; crucial resistance seen near 0.6065 NZDUSD rose exponentially by more than 1.0% on Wednesday, becoming one of the best performing major pairs today as stronger-than-expected NZ jobs data trimmed expectations of a 25bps rate cut next week, and safe-haven flows eased. The pair advanced forcefully above the broken support trendline from October 2022 and its 20-day simple moving average (SMA) after [..]

Technical Analysis – NZDUSD jumps aggressively higher

Posted on August 7, 2024 at 11:45 am GMT

NZDUSD records a sizeable green candle today Strong reaction following the recent acute correction Momentum indicators are mixed, bearish pressure weakening NZDUSD is edging aggressively higher today, cancelling out a good part of the recent correction that led to a new 9-month low. The overall positive market sentiment and the stronger labour market data from New Zealand during the Asian session have helped NZDUSD climb higher as the RBNZ is preparing for next week’s rate-setting meeting. In the meantime, the [..]

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