All Articles Tagged - NZDUSD

Forex Market Review (European Session) – Safe havens benefit on geopolitical uncertainty; dollar touches 3-week high

Posted on August 9, 2017 at 3:07 pm GMT

Rising tensions between North Korea and the US led traditional safe havens to post gains today. Meanwhile, the few data releases during the day failed to cause much of a reaction in currency markets. The Swiss franc, which as of recently was hitting headlines on continuing weakness, surged today on the back of safe haven demand. In particular, euro/franc fell to as low as 1.1259 after starting the day at 1.1447. It was last down 0.9% on the day. Dollar/franc [..]

Forex Market Review (Asian Session) – Safe-haven assets gain on escalating US-North Korea geopolitical turmoil

Posted on August 9, 2017 at 7:44 am GMT

Geopolitical woes between the US and North Korea escalated overnight following announcements by the presidents of both countries. In response, safe-haven assets such as the yen, Swiss franc and gold strengthened overnight. The dollar index was moderately down ahead of European trading. The escalating situation commanded the news flow during the Asian session, overshadowing other economic developments of significance for forex markets. North Korea announced that its leader Kim Jong Un was weighing a possibility to strike the US Pacific territory of Guam [..]

Forex Market Review (European Session) – Dollar touches 1½ – week high as Job openings hit a record high; oil pares gains amid ongoing oversupply

Posted on August 8, 2017 at 3:53 pm GMT

With political uncertainties in the US in the background and tensions between North- Korea and the US increasing, the dollar managed to recover from yesterday’s losses as US job vacancies reached a record-high in June and drove the currency to a 1½ week- high. Meanwhile, in the commodity markets, oil could not sustain its gains arising from Saudi Arabia’s willingness to cut its oil supplies by more than it pledged, as global oil production does not show any signs of [..]

Forex Market Review (Asian Session) – Dollar weakens in wake of US inflation, euro strengthens and oil pressured

Posted on August 8, 2017 at 7:34 am GMT

Chinese economic data dominated today’s Asian session as dollar traders await key consumer prices figures for July due on Friday. The dollar index gave up on some of the strong gains from Friday to last trade at 93.36. The euro was up against the greenback, trading above the 1.1800 handle. Disappointing trade data out of China got some investors worried about a slowdown in the global economy. Annually, exports from the mainland grew 7.2% in July, slowing down from 11.3% in June and coming [..]

Forex Market Review (Asian Session) – Dollar weakens on start of quiet week as other majors up; oil pressured

Posted on August 7, 2017 at 7:32 am GMT

Forex markets have started the week on a relatively quiet note regarding economic releases. During the Asian session, New Zealand inflation expectations and German industrial output in June were the main figures of interest. The dollar gave up on some of Friday’s gains against most majors, including the yen and the euro. The greenback weakened modestly against most majors during Asian trading, following its surge on Friday amid a better-than-expected jobs report. The report pointed to a healthy and growing labor market, as 209K new jobs were created last [..]

Week Ahead – US CPI; RBNZ meeting; OPEC/non-OPEC to monitor cuts

Posted on August 4, 2017 at 4:04 pm GMT

Next week will be calmer in terms of data releases relative to this one, though certain figures from major economies will definitely grab the markets participants’ attention. In terms of central bank meetings, the Reserve Bank of New Zealand will meet to set monetary policy, while oil prices may experience added volatility given that a meeting to monitor compliance with output cuts will be taking place in Abu Dhabi. RBNZ decision on monetary policy The Reserve Bank of New Zealand [..]

Forex Market Review (Asian Session) – Dollar in doldrums ahead of NFP data; most other majors and gold firm up

Posted on August 4, 2017 at 7:14 am GMT

The greenback had yet another setback overnight ahead of the eagerly-anticipated non-farm payrolls data out today. Following yesterday’s disappointing ISM non-manufacturing PMI, the dollar slid on an alleged grand jury issuance of subpoenas about a June 2016 meeting President Trump’s son and his son-in-law held with a Russian lawyer. The dollar index weakened about a tenth-of-a-percent to last trade at 92.74. In Asia, forex markets had a mixed reaction against the dollar. The yen and the aussie firmed up against the greenback, [..]

Technical Analysis – NZDUSD turns lower from 2-year high after reaching overbought conditions

Posted on August 3, 2017 at 8:12 am GMT

NZDUSD is making a corrective move lower after a recent uptrend stalled at a high of 0.7557 on July 27. The market became overextended at this more than 2-year high as indicated by RSI rising above the 70 level. Following a short consolidation phase just above support at 0.7462, prices fell below this level which has turned into resistance. It is also where the 50-period moving average (MA) is currently located. Further downside is expected since RSI has fallen below [..]

Forex News – New Zealand’s employment change turns negative; Kiwi sinks by 0.7%

Posted on August 2, 2017 at 8:40 am GMT

Kiwi lovers experienced losses in their holdings for the second day after the number of people employed in New Zealand dropped suddenly in the second quarter, disappointing expectations. Statistics New Zealand released early on Wednesday employment data for the June 2017 quarter. After six quarters of employment growing positively, the number of employees dropped by 0.2% (4,000 people quarter-on-quarter), surprising analysts who anticipated instead for growth to slow down to 0.7% from 1.2% in the previous quarter. In addition, the participation rate went down [..]

Forex Market Review (Asian Session) – Asian currencies weaken against dollar as euro, sterling firm up; oil under pressure

Posted on August 2, 2017 at 7:26 am GMT

As traders in Europe were about to start the day, the dollar managed to retrace some of its losses against Asian currencies. However, the dollar index was moderately down at 93.01 as the euro and sterling strengthened. A weak labor market drove the New Zealand dollar lower during the Asian session, as the figures curbed the possibility of a shift in the central bank’s neutral guidance on monetary policy. Change in employment fell 0.2% in the second quarter, faring worse than the expected 0.7% expansion and well [..]

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