All Articles Tagged - NZDUSD

Daily Market Comment – Stocks catch fire on Fed hopes, but dollar halts slide

Posted on October 5, 2022 at 9:34 am GMT

Drop in US job openings points to cooling labour market, boosts risk appetite Stocks stage massive rally but may have hit a snag as Fed stands firm Dollar retraces some losses but kiwi bucks the trend after RBNZ hike Oil prices steady ahead of OPEC+ output decision Risk rally starts to fade amid doubts about Fed pivot The market euphoria around the hopes that the Fed is nearing a turning point with its policy tightening began to fade slightly on [..]

Technical Analysis – NZDUSD gathers bullish traction

Posted on October 5, 2022 at 8:25 am GMT

NZDUSD finally jumped above the weekly resistance of 0.5730 to top at 0.5800 in the wake of the RBNZ’s hawkish policy announcement early on Wednesday. Although the pair has already reversed its advance, the RSI continues to build its uptrend above its 30 oversold level, signaling that the previous bearish wave in the price has probably bottomed out. Likewise, the MACD is extending its positive momentum above its red signal line, mirroring an improving short-term bias as well. On the way up, the [..]

Daily Market Comment – Equities begin the last quarter on positive note; RBA delivers smaller hike

Posted on October 4, 2022 at 8:32 am GMT

Wall Street rebounds on worse than expected ISM PMI Pound extends recovery on UK government’s U-turn RBA hikes by 25bps, RBNZ takes the torch Gold gains on sliding bond yields Wall Street rebounds, yields slide on ISM PMI miss Equities finished the first trading day of this year’s final quarter on a positive note, with all three of Wall Street’s main indices gaining more than 2% as Treasury yields pulled back on the larger-than-expected slide in the ISM manufacturing PMI. [..]

Daily Market Comment – Yen flirts with intervention level, UK budget U-turn lifts pound

Posted on October 3, 2022 at 9:13 am GMT

Dollar mixed as yen and euro struggle, pound extends rebound on budget hopes Stocks lack direction as Credit Suisse woes add to outlook worries US ISM and jobs data eyed as Fed reiterates inflation-busting policy stance Recession fears run high but UK’s Kwarteng offers some relief The third quarter got off to a subdued start on Monday as there was no respite for equity markets from the worsening economic landscape globally, though major currencies were able to bounce back amid [..]

RBNZ to stick to its guns, eyes on guidance – Forex News Preview

Posted on September 30, 2022 at 1:30 pm GMT

The month of October will mark a year since the Reserve Bank of New Zealand (RBNZ) launched its tightening campaign. Despite the nonstop rate increases, the central bank will not abandon its mission against inflation as the impact has been negligible so far, with traders largely expecting another half percentage point rate hike on Wednesday at 02:30 GMT. RBNZ to raise rates by 50bps A delayed lift of travel restrictions, China’s zero-covid policy, and a darkening global economic outlook overshadowed [..]

Week Ahead – RBA and RBNZ to weigh 50-bps hikes but NFP report to set the mood

Posted on September 30, 2022 at 10:22 am GMT

The antipodean central banks will kick off the new month with their October policy decisions, but the latest jobs report out of the US could steal the limelight amid the never-ending anticipation of when the Fed will reach peak hawkishness. Following the latest panic in the markets and the renewed rush to buy US dollars, the reserve banks of Australia and New Zealand might be more inclined to maintain their aggressive pace of tightening and not ease up just yet. [..]

Technical Analysis – NZDUSD plummets to fresh 30-month lows

Posted on September 28, 2022 at 8:24 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Moreover, in the past few sessions, the technical picture has deteriorated even further, with the price recording a fresh 30-month low of 0.5563. The momentum indicators are currently deep within their bearish areas, which could also signal that a rebound is imminent. The RSI is descending in the 30-oversold zone, while the stochastic oscillator has eased within its 20-oversold territory. Should selling pressures [..]

Technical Analysis – NZDUSD slides below 0.5920 as bears stay in charge

Posted on September 21, 2022 at 1:46 pm GMT

NZDUSD slipped below 0.5920 yesterday, a level marked as a support by the low of May 15, 2020. Overall, the pair continues to trade below a tentative downside resistance line drawn from the high of April 5, as well as below all the plotted moving averages. Therefore, the support breach in the direction of the prevailing trend implies that more declines may be in the works for the foreseeable future. The RSI and the MACD add credence to the narrative, [..]

Daily Market Comment – Dollar at fresh highs ahead of Fed as Russia jitters sink euro

Posted on September 21, 2022 at 9:09 am GMT

Russia-Ukraine tensions flare up, knocking the euro and boosting safe havens Stocks subdued but losses contained as investors await Fed decision Yields fall back slightly and gold climbs on Russia worries Tense mood amid Fed and geopolitical risks The US dollar extended its gains on Wednesday, while stocks stayed largely in the red as investors weighed the risks from the Fed’s upcoming policy decision as well as the possible impact from Russia’s latest warmongering, which is adding to the [..]

New Zealand Q2 GDP eyed as recession fears ramp up – Forex News Preview

Posted on September 14, 2022 at 11:03 am GMT

New Zealand will report second-quarter GDP data on Wednesday at 22:45 GMT. After a negative start to the year, the commodity-dependent economy has likely enjoyed some post-Covid expansion, avoiding a technical recession despite the dim economic releases during the period. A negative surprise cannot be ruled out, though in any case, the data could do little to alter the RBNZ’s hawkish stance and hence affect the battered kiwi. Disappointing retail sales flag technical recession The June quarter was not very [..]

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