All Articles Tagged - NZDUSD

Market Comment – Yen weakens as positive market sentiment lingers

Posted on August 7, 2024 at 7:43 am GMT

Markets continue to recover led by the Nikkei 225 index BoJ comments result in yen underperformance Light calendar again today, focus on geopolitics Kiwi benefits from strong labour market data The Nikkei 225 index sets the tone for recovery The positive momentum persisted yesterday as the key US stock indices finished in the green, recovering a tad from Monday’s lows. Euro/dollar continues to drift lower at the time of writing with the 10-year US Treasury yield hovering around the 3.9% [..]

Could data open the door to an RBNZ cut next week? – Preview

Posted on August 5, 2024 at 8:52 am GMT

Market in crisis mode after Friday’s US labour report An RNBZ rate cut could be on the cards if data weakens China’s problems hamper progress in the region Kiwi in desperate need of good data prints Markets in disarray With the market digesting last week’s events, especially Friday’s US labour market report that triggered discussions of a US recession, and the heightened probability for aggressive rate cuts by the Fed during 2024, the focus turns to the Asia-Pacific region. The [..]

Market Comment – Dollar plummets as US jobs data spread panic

Posted on August 5, 2024 at 8:10 am GMT

Disappointing US jobs data push dollar off the cliff Yen extends rally as fears over US economy mount Stocks drop, VIX rallies to levels seen more than a year ago NFP report disappoints, rate cut bets surge The US dollar plunged on Friday after the US employment report for July came in weaker than expected, raising fears about the performance of the US economy and prompting market participants to start believing that the Fed may need to cut interest rates [..]

Week Ahead – RBA and BoJ Summary of Opinions take center stage

Posted on August 2, 2024 at 11:38 am GMT

RBA decides on policy as hike bets disappear BoJ Summary of Opinions awaited for more hike hints After Fed, dollar turns to ISM non-mfg PMI New Zealand and Canada jobs data also on tap Will the RBA turn dovish? Following the BoJ, the Fed, and the BoE decisions this week, the central bank torch will next be passed to the RBA, which announces its decision on Tuesday. At its latest meeting, this Bank kept its benchmark rate unchanged at [..]

Technical Analysis – NZDUSD poised for bullish rotation

Posted on July 31, 2024 at 8:48 am GMT

NZDUSD rotates higher after touching familiar support zone Technical signals increase the odds for upside reversal FOMC policy announcement might affect USD at 18:00 GMT NZDUSD has had a terrible month, but a bullish rotation this week has brought hope that the bearish phase could be over. The pair changed direction and moved north after reaching April’s pivotal zone of 0.5850, creating a bullish engulfing candlestick pattern. This is usually a sign of a positive reversal, with the RSI and stochastic [..]

Market Comment – Dollar trims losses against yen, core PCE on tap

Posted on July 26, 2024 at 8:23 am GMT

Dollar/yen rebounds after US GDP data Core PCE the next test for Fed rate cut bets Yen rally losing steam ahead of BoJ next week Wall Street extends slide, more earnings awaited GDP data adds fuel to dollar’s engines The dollar traded higher against most of its major counterparts on Thursday, trimming losses against the yen and extending its rally versus the wounded aussie, kiwi and Loonie. What may have allowed the greenback to recover some of the recently lost [..]

Market Comment – Stock market correction picks up speed

Posted on July 25, 2024 at 7:50 am GMT

Fed expectations and US election affect sentiment Euro remains on the back foot against the dollar PBoC announces a surprise rate cut Gold suffers, aussie and kiwi losses pile up Stocks’ weakness intensifies Stocks are under severe pressure as the main US equity indices recorded yesterday their worst daily performance since late-2022. Considering the fact that yesterday’s US PMI surveys were mixed, and therefore not the trigger for this move, the cause of the continued weakness in equities runs deep. [..]

Market Comment – Dollar remains strong ahead of key data, yen surges

Posted on July 24, 2024 at 8:22 am GMT

Dollar keeps marching north, PMIs on tap Yen extends rally as traders unwind carry trades Aussi and kiwi slide on China concerns, loonie awaits BoC Stocks trade in the red, tech earnings in the spotlight Traders continue to buy the US dollar The dollar traded higher against all but one of its major peers on Tuesday and continued to do so today. The exception was the Japanese yen. With Fed fund futures suggesting little change in market expectations about the [..]

Technical Analysis – NZDUSD plunges to new multi-week low

Posted on July 24, 2024 at 7:20 am GMT

NZDUSD dives almost 4% from the July high of 0.6150 Price may rebound off 0.5875 20- and 200-day SMAs record a bearish cross Momentum oscillators indicate upside correction NZDUSD has been creating an aggressive bearish rally since the break beneath the short-term uptrend line, diving almost 4% after the pullback from the 0.6150 resistance. The pair posted a fresh 12-week low of 0.5913 today and is also recording its fifth consecutive red day. The 20- and 200-day simple moving averages (SMAs) established a negative crossover, confirming the recent negative move; [..]

Market Comment – Wall Street extends record streak, gold joins in

Posted on July 17, 2024 at 8:15 am GMT

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries [..]

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