All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD hits 3-week low as bearish bias strengthens

Posted on February 15, 2023 at 3:54 pm GMT

NZDUSD has come under selling pressure after failing to reclaim its 50-day simple moving average (SMA). The pair is currently testing the 38.2% Fibonacci retracement of the February 2021-October 2022 downtrend, which falls at 0.6257. The momentum indicators suggest a breach of this support is more likely than not. The RSI has fallen sharply below the 50 neutral level, while the MACD is headed deeper into negative territory, with its signal line also about to dip below zero. If NZDUSD [..]

Daily Market Comment – Stocks pinned down by CPI angst, yen skids as BoJ boost fades

Posted on February 13, 2023 at 10:17 am GMT

Stocks, yields and US rate futures fall in line with Fed’s ‘higher for longer’ message Worries about upside surprise in US CPI report weighs on mood, dollar firms Yen reverses gains as contender for BoJ chief dents hawkish expectations Markets on edge ahead of US inflation data Money markets are continuing to price in a higher terminal rate for the Fed on Monday following the robust payrolls and ISM data, as anxiety builds of a possible upside surprise in this [..]

Technical Analysis – NZDUSD points marginally up within trading range

Posted on February 8, 2023 at 8:15 am GMT

NZDUSD is ticking slightly higher, remaining within a medium-term consolidation area with upper boundary the 0.6510 resistance and lower boundary the 0.6190 support. The technical oscillators are confirming this sideways move on price as the MACD is standing near the zero level, while the RSI is flattening in the negative region. Should selling forces strengthen, the 200-day simple moving average (SMA), which overlaps with the lower boundary of the channel at 0.6190 will come under the spotlight. The 0.6150 could [..]

Daily Market Comment – Dollar soars, stocks dive after NFP shock; yen skids on BoJ rumours

Posted on February 6, 2023 at 10:26 am GMT

Jump in payrolls halts tech rally, revives dollar bulls; Fed speakers eyed next Yen tumbles on reports that Kuroda successor will be architect of BoJ’s ultra-easy policy Gold takes a hit from surging yields, but pares losses on US-China tensions Markets learning to not fight the Fed Friday’s payrolls report sent markets into a spin as the US economy added a staggering 517k jobs in January, disproving concerns about a worsening slowdown. More crucially, the fact that the labour market [..]

Technical analysis – NZDUSD extends pullback after advance got rejected

Posted on February 1, 2023 at 8:52 am GMT

NZDUSD had been on a steady decline in 2022, finding its feet at the 31-month low of 0.5510 in early October. Even though the pair has staged a solid rebound since then, it is currently experiencing a downside correction after its uptrend got rejected at the seven-month high of 0.6528. The momentum indicators currently suggest that selling forces are strengthening. Specifically, the MACD histogram is softening below its red signal line but remains in the positive region, while the stochastic oscillator is [..]

New Zealand jobs data eyed as kiwi uptrend hits a snag – Forex News Preview

Posted on January 30, 2023 at 4:05 pm GMT

Quarterly employment numbers will be watched in New Zealand on Tuesday (21:45 GMT) for clues as to what to expect from the Reserve Bank of New Zealand when it meets on February 22. After last week’s somewhat stronger-than-expected CPI readings, investors will be on alert for more possible upside surprises as the RBNZ could outhawk all the other major central banks. But would upbeat data be enough to push the local dollar above the $0.65 barrier, which is proving to [..]

Technical analysis – NZDUSD faces tough challenge near 7-month high

Posted on January 25, 2023 at 8:23 am GMT

NZDUSD had experienced a steep downtrend in 2022, posting a 31-month low of 0.5510 in early October. However, the pair has staged a substantial rebound since then, which seems to be running out of steam slightly below the recent seven-month high of 0.6528. The momentum indicators currently suggest that buying forces are subsiding but remain in control. Specifically, the RSI is pointing downwards above its 50-neutral mark, while the MACD histogram is softening but holds above both zero and its red signal line. [..]

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Posted on January 24, 2023 at 10:32 am GMT

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday. US stocks staged a [..]

Will a surprise in New Zealand’s CPI data boost further the kiwi? – Forex News Preview

Posted on January 24, 2023 at 9:56 am GMT

The New Zealand economy has had a rough start to the new year and is expected to release the CPI figures later on Tuesday, at 21:45 GMT. There are growing indications of a slowdown in the consumer and commercial markets. In addition, there is an expectation that economic activity will continue to decline over the course of 2023 as a result of a major tightening in financial conditions over the previous year. Even so, there have been no indicators that inflationary pressures [..]

Daily Market Comment – Fed signals downshift, lifting Wall Street, but dollar sags

Posted on January 23, 2023 at 10:47 am GMT

Fed officials warm up to 25-bps rate hikes, cheering equity markets But dollar takes a hit, stands firm only against sinking yen Euro powers on as ECB hawk puts foot down, flash PMIs eyed Fed enters blackout with a nod to slower hikes Trading got off to a quieter start on Monday, as China and other major markets in Asia are closed for the Lunar New Year celebrations, and Friday’s risk rally lost some steam, but the positive sentiment continued [..]

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