All Articles Tagged - NZDUSD

What do higher US interest rates mean for the risk-linked currencies? – Special Report

Posted on March 10, 2023 at 11:15 am GMT

With expectations about the Fed’s future course of action changing radically lately, the commodity-linked or risk-sensitive currencies aussie, kiwi, and loonie have been under strong pressure. But why are those currencies suffering and how could they perform in the near future? What does commodity-linked currencies mean? Commodity currencies are the currencies of economies that are sensitive to changes in commodity prices and usually rely on commodity exports for growth. Among the major ones, the three that fit that description are [..]

Technical Analysis – NZDUSD hovers near today’s 3½-month trough

Posted on March 8, 2023 at 8:22 am GMT

NZDUSD sank to a fresh three-and-half month low of 0.6080, earlier today after the aggressive selling interest on Tuesday. The price is currently holding beneath the 200-day simple moving average (SMA) and the 0.6130 key level as well as below the bearish cross within the 20- and the 50-day SMAs. According to the technical oscillators, the RSI indicator dived towards the 30 level and is flattening, while the MACD is strengthening its bearish momentum below its trigger and zero lines. [..]

Technical Analysis – NZDUSD rebounds strongly from near 0.6125

Posted on March 1, 2023 at 2:18 pm GMT

NZDUSD has been in a recovery mode since Monday when the pair triggered some buy orders near the 0.6125 territory, an area around which the pair changed hands several times since the summer. Today, the recovery accelerated, adding around 1.5% worth of gains to the pair, but given that it is still trading below the plotted exponential moving averages, the outlook could still be neutral. The RSI rebounded from near the 30 line, while the MACD, although below both its [..]

Daily Market Comment – Sentiment improves on upbeat Chinese PMIs, dollar sags

Posted on March 1, 2023 at 10:11 am GMT

Strong China factory data boosts equities but rate hike fears limit gains Dollar pulls back, euro climbs as ECB starts QT Aussie and loonie up on China optimism but soft GDP numbers weigh Markets buoyed as China reopening boost starts to materialize After ending February on a sour note, equity markets started the new month in a cheerier mood with the help of some much-needed positive headlines from China. Manufacturing activity in the world’s second largest economy grew at the [..]

Daily Market Comment – Dollar extends gains after PMIs, awaits Fed minutes

Posted on February 22, 2023 at 9:12 am GMT

Dollar strengthens as better PMIs add to Fed hike bets Eurozone and UK PMIs also surprise to the upside Equities and risk-linked currencies feel the heat of hike bets Better PMIs fuel Fed hike bets and the dollar, Fed minutes on tap The dollar traded higher against all but one of the other major currencies yesterday, although it is trading mixed today. The only currency against which the greenback lost ground was the British pound. Following a streak of upbeat [..]

Technical Analysis – NZDUSD flatlines but sellers still active

Posted on February 22, 2023 at 8:29 am GMT

NZDUSD faced little volatility during the Asian trading session after a more-or-less expected 50bps rate hike by the Reserve Bank of New Zealand. The pair keeps building floor around the 0.6200 level and marginally above the 200-day simple moving average (SMA), raising hopes for an upside correction, though with the RSI maintaining a downtrend comfortably below its 50 neutral mark and the MACD remaining negatively charged below its red signal line, the luck seems to be on the bears’ side. It’s also [..]

RBNZ may debate peak rate projection – Forex News Preview

Posted on February 21, 2023 at 4:14 pm GMT

The destruction caused by Cyclone Gabriele dominated the news in New Zealand over the past few weeks, but the focus will turn back to the economy as the central bank is scheduled to announce its first policy decision for the year on Wednesday at 01:00 GMT. The consensus is for a downshift to a 50bps rate hike, though whether policymakers will make a downward revision to the projected rate path may attract greater attention. Nevertheless, a less hawkish meeting could still help the kiwi to recoup some losses. [..]

Weekly Technical Analysis – USDJPY, NZDUSD, EURUSD

Posted on February 20, 2023 at 1:39 pm GMT

This week the highlight will be on the Fed minutes, the first RBNZ interest rate decision of the year and the Eurozone flash PMIs, while the focus may turn on the reaction of USDJPY, NZDUSD and EURUSD. Fed minutes → USDJPY The FOMC minutes will take up most of the attention on Wednesday with Fed officials have been much more hawkish since this meeting. USDJPY is flirting with the 134.75 resistance level again and the short-term SMAs posted a bullish crossover suggesting more gains. RBNZ [..]

Week Ahead – Fed minutes and RBNZ decision coming up

Posted on February 17, 2023 at 10:41 am GMT

Investors will receive another dose of crucial data releases next week that can fuel FX volatility. The highlight will be the minutes of the last FOMC meeting, where there’s a risk that policymakers strike a different tone than Powell did back then. Over in New Zealand, the central bank is about to roll out another rate hike. Meanwhile, the latest set of business surveys will provide a timely update on the health of the global economy. Dollar tries to capitalize [..]

Technical Analysis – NZDUSD tries to break lower, stochastic favours upside move

Posted on February 16, 2023 at 2:44 pm GMT

NZDUSD is edging lower today as it is battling with the 50% Fibonacci retracement of the April 5 – October 13 downtrend at 0.6272. The pair has been on an upward path since October 13 with NZD currently registering a sizeable 13% rally against USD. However, since mid-November NZDUSD has been trading inside a wide rectangle. This structure can be also interpreted as a double top pattern with the “neckline” at the 0.6251 area, slightly below current pricing. This pattern tends to favour [..]

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