All Articles Tagged - NZDUSD

Daily Market Comment – Dollar receives mild support ahead of CPI data

Posted on May 9, 2023 at 7:49 am GMT

Dollar rises as Fed survey eases recession fears Risk-linked currencies gain more on improving sentiment Spotlight turns to US CPI numbers Wall Street trades mixed ahead of the data Fed loan survey lends mild support to the US dollar The US dollar gained some ground versus the euro, the pound, and the yen yesterday, but underperformed against the risk-linked aussie, kiwi and loonie. The greenback is slightly outperforming most of its peers today. Traders may have decided to buy some [..]

Daily Market Comment – Dollar can’t catch a break despite solid NFP as CPI eyed

Posted on May 8, 2023 at 9:26 am GMT

US dollar stays on the backfoot even as jobless rate unexpectedly dips in April Fed rate cut bets still elevated; will inflation data alter anything? US bank stocks rebound but worries persist, debt ceiling standoff adds to jitters Markets unfazed by strong US jobs report It was another allrounder strong payrolls report on Friday as the US economy added an impressive 253k jobs in April, beating the consensus forecasts. More significantly, the unemployment rate unexpectedly edged lower to a five-decade [..]

Week Ahead – BoE takes the central bank torch, US CPI data also in focus

Posted on May 5, 2023 at 11:05 am GMT

Following the FOMC and ECB decisions last week, the central bank torch will now be passed to the BoE, which will deliver its decision on Thursday. A 25bps hike is mostly priced in, so the spotlight will fall on clues and hints on how officials are planning to move forward. The US CPIs will also attract special attention as investors are trying to figure out whether the Fed will pause or hike once more in June. Will the BoE hint [..]

Technical analysis – NZDUSD slices through 50-day SMA as rebound extends

Posted on May 3, 2023 at 11:23 am GMT

NZDUSD had been steadily gaining ground after its latest retreat came to a halt at 0.6154 in late April. Moreover, the pair has already claimed crucial levels, jumping above both its 50- and 200-day simple moving averages (SMAs), while also entering within the Ichimoku cloud. The momentum indicators are reflecting a cautiously positive tone. Specifically, the MACD histogram has jumped above its trigger line but remains below zero, while the RSI surpassed its 50-neutral threshold. Should buying pressures persist, the pair might edge higher [..]

Technical Analysis – NZDUSD fails to jump above the 200-day SMA

Posted on April 26, 2023 at 7:41 am GMT

NZDUSD is still developing beneath the strong flat 200-day simple moving average (SMA) around the 0.6155 barrier. The RSI indicator is standing beneath its trigger and zero lines with weak momentum, while the MACD is losing ground beneath its trigger and zero lines. An extension of the bearish movement may find immediate support at the three-and-half-month low of 0.6080. Even lower, the 0.6000 psychological mark may halt the negative actions but if not the 0.5840 obstacle may act as a [..]

Weekly Technical Analysis – EURUSD, USDJPY, NZDUSD

Posted on April 19, 2023 at 9:34 am GMT

The highlights on the remainder of this week’s agenda could be the Eurozone PMIs, as well as the Japanese and New Zealand CPIs. So, traders are likely to be interested in how EURUSD, USDJPY and NZDUSD may react. Eurozone PMIs -> EURUSD On Friday, euro traders will be looking in the business surveys for clues as to whether the performance of the euro area economy warrants more hikes by the ECB. EURUSD pulled back recently, but it continues to trade [..]

Technical Analysis – NZDUSD range bound ahead of quarterly CPI

Posted on April 19, 2023 at 7:02 am GMT

NZDUSD got another rejection near the 0.6300 round-level last week, drifting lower to retest the 200-day simple moving average (SMA) around 0.6158 ahead of New Zealand’s quarterly CPI inflation data. The focus will remain on the downside as the RSI has returned to the bearish region, and the MACD has slipped into the negative area, both suggesting that downside corrections are more likely than upside ones. A close below the 200-day SMA may renew selling pressures, likely driving the price straight to the [..]

Technical analysis – NZDUSD slices through 50-day SMA as rebound falters

Posted on April 12, 2023 at 8:06 am GMT

NZDUSD had been steadily gaining ground after finding its feet at the 2023 low of 0.6083 in early March. However, the recovery proved to be short-lived and the price reversed lower, diving beneath its 50-day simple moving average (SMA), while the focus has now shifted towards the 200-day SMA. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the stochastic oscillator is declining within the 20-oversold territory, while the RSI has flatlined beneath its 50-neutral mark. Should [..]

Daily Market Comment – Dollar extends slide as US job openings tumble

Posted on April 5, 2023 at 8:20 am GMT

US job openings fall to the lowest since May 2021 Wall Street slips as data revives recession fears Gold rallies above $2,000 as Fed pivot bets intensify New Zealand dollar rallies after RBNZ hikes by 50bps Dollar extends losses as speculation about Fed rate cuts increases The dollar extended its losses against most of its major peers on Tuesday, with traders becoming split on whether the Fed will deliver another 25bps hike at its May meeting or not. Following OPEC’s [..]

Technical Analysis – NZDUSD points to bullish continuation

Posted on April 5, 2023 at 8:07 am GMT

NZDUSD advanced to a seven-week high of 0.6378 in the wake of a bolder-than-expected 50bps rate hike by the Reserve Bank of New Zealand early on Wednesday. The pair has been developing northwards within a bullish channel since the drop to 0.6083 on March 10th, having already climbed above its simple moving averages (SMAs). Encouragingly, the RSI and the MACD are sending clear positive signals at the moment, with the former trending up confidently above its 50 neutral mark and the latter [..]

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