All Articles Tagged - NZDUSD

Forex Market Review (Asian Session) – Trump yet again induces dollar weakness against yen; other majors edge down

Posted on August 23, 2017 at 7:23 am GMT

President Trump has yet again induced weakness in the US currency with his remarks about a possible government shutdown to fulfill his campaign promises. The greenback weakened against the yen, but gained against other majors making the dollar index flat on the day. The release of flash PMI data out of the eurozone will attract some traction during early hours of European trading. Speaking at a rally in Phoenix, President Trump said “If we have to close down the government, we [..]

Forex Market Review (Asian Session) – Washington drama continues to weigh on markets, investors await Jackson Hole

Posted on August 21, 2017 at 7:40 am GMT

In the absence of any significant economic data releases during today’s Asian trading, the political drama surrounding President Trump continued to take central stage. The President fired his chief strategist Steve Bannon on Friday and in that way continued the string of staff shake up in the White House. The key event of this week will be the meeting of central bankers in Jackson Hole towards the end of the week. Late on Friday, markets got another news out of [..]

Forex Market Review (European Session) – Loonie spikes on rising inflation; consumer sentiment provides some relief to weak dollar

Posted on August 18, 2017 at 2:56 pm GMT

Ahead of the US session open, a jump in the Canadian dollar was one of the biggest moves of the day following the inflation figures out today. The release of the Michigan consumer sentiment index that surprised to the upside provided an early lift to the weak dollar. However, the greenback was still down against most majors due to a heavy plunge in the prior few sessions. The dollar index fell around 0.30% to last trade at 93.36. The Canadian [..]

Technical Analysis – NZDUSD risk back to downside after rebound loses steam

Posted on August 17, 2017 at 8:15 am GMT

NZDUSD paused its decline from the July 27 high of 0.7557 to the August 16 low of 0.7222. After staging a robust rebound from this one-month low yesterday, the pair lost upside momentum. Prices reached the strong resistance level at the 61.8% Fibonacci retracement level (0.7335) of this downtrend. RSI remains above 50 in bullish territory which leaves room for further upside in the near-term, with scope to target the 50% Fibonacci at 0.7378. A break of this resistance would [..]

Forex Market Review (Asian Session) – Yen gains on Fed minutes, commodity-linked aussie extends gains, oil inches up

Posted on August 17, 2017 at 7:44 am GMT

As Asian traders were heading home for the day, the yen rose and the dollar extended declines following the release of the Federal Reserve meeting minutes last night. The aussie firmed up following a rally in base-metal prices. The rest of the day looks busy with several economic data publications across Europe and the US along with the release of the European Central Bank meeting minutes. The dollar fell against the yen and other majors after the release of the [..]

Forex Market Review (Asian Session) – Dollar continues gaining against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:42 am GMT

The US dollar continued gaining during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (European session) – Dollar climbs as war tensions calm; euro drifts lower after poor industrial performance

Posted on August 14, 2017 at 3:05 pm GMT

During European trading hours, the dollar managed to reverse partially from losses made on Friday, after comments by two US civil officials and the South Korean president on Monday eased war tensions between the US and North Korea. Meanwhile, the euro weakened as data out of the eurozone showed that industrial output in the area missed expectations. Following Trump’s comments on Friday, who warned that the US army was “locked and loaded” if North Korea acted unwisely, the South Korean president, Moon Jae-in, said on Monday in a meeting [..]

Forex News – RBNZ holds monetary policy unchanged; Kiwi sinks to a four-week low

Posted on August 10, 2017 at 10:09 am GMT

Early on Thursday, RBNZ policymakers gathered to decide on monetary policy. As it was widely expected, the RBNZ held cash rates unchanged maintaining rates at a record low of 1.75%. However, the bank’s preference over a lower exchange rate, expressed after the release of the statement, pushed the kiwi down to a four-week low, while electronic retail sales figures pressured the currency further. Despite recent data showing a negative change in employment for the first time since November 2015, and a softer [..]

Technical Analysis – NZDUSD bearish; risk of further downside to target key 0.72 level

Posted on August 10, 2017 at 9:32 am GMT

NZDUSD turned increasingly bearish on the 4-hour chart after being unable to sustain a break above a key resistance level at 0.7335. Downside momentum increased and prices briefly dipped to a 2-month low of 0.7251. There is risk for a further extension lower to target the key 0.7200 level, resulting in a full retracement of the uptrend that took place from the July 11 low to the July 27 multi-year high of 0.7557. Upside moves are likely to find resistance [..]

Forex Market Review (Asian Session) – Lingering US-North Korea tensions continue to constrain markets, kiwi falls on RBNZ

Posted on August 10, 2017 at 7:44 am GMT

Intensifying turmoil between the US and North Korea continued to strain forex markets across the globe and to lift demand for assets perceived as safe havens for the second day. The yen and gold continued rising, while the Swiss franc took a breather against the dollar (last trading at 0.9660 francs) and the euro, but kept most of its yesterday’s hefty gains. North Korea went further with its threat to the US by providing detailed plans about how it plans to launch missile [..]

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