All Articles Tagged - NZDUSD

Daily Market Comment – Dollar steady ahead of US retail sales, Fed minutes as stocks stay buoyant

Posted on August 17, 2022 at 8:50 am GMT

US retail giants lift recession gloom, as Dow Jones and S&P 500 extend gains But FX market focused on US data and Fed minutes, dollar stays firm Pound and kiwi reverse gains from UK inflation surprise and hawkish RBNZ Stocks stay on the bright side Equity traders continue to shrug off persisting recession worries, choosing to bet instead that a severe downturn will be avoided, at least when it comes to earnings. Walmart and Home Depot were the latest to [..]

Daily Market Comment – Oil sinks, dollar surges as growth fears return but stocks keep partying

Posted on August 16, 2022 at 9:03 am GMT

Dismal data out of China and the US stifle risk appetite as recession risks return But Wall Street immune to the doom and gloom as tech stocks rally Dimming outlook weighs on commodities as oil hits 6½-month low Dollar powers ahead on fresh growth scare The month-long risk rally suffered a major setback on Monday after economic indicators out of the world’s two biggest economies did anything but shore up confidence in the growth outlook, reviving fears about a [..]

RBNZ to deliver another double hike, spotlight on OCR projections – Forex News Preview

Posted on August 12, 2022 at 12:46 pm GMT

After nearly two weeks of absence, central banks return to the agenda, with the Reserve Bank of New Zealand taking the torch on Wednesday, at 02:00 GMT. The Bank is widely expected to deliver another 50bps liftoff and thus, a hike of this size by itself may not excite NZD traders. Any market reaction could come from the Bank’s updated official cash rate (OCR) projections. July decision points to willingness for more tightening At its latest gathering, the RBNZ decided [..]

Week Ahead – A plethora of data, an RBNZ meeting, but focus on Fed minutes

Posted on August 12, 2022 at 12:05 pm GMT

There will be no shortage of data releases in the coming week and the RBNZ is poised to hike rates again. But with investors still undecided about the implications of the latest US inflation report on Fed policy, the FOMC minutes might steal the limelight. Meanwhile, thinning liquidity as more traders head for their holiday destinations increases the likelihood of big knee-jerk reactions as markets obsess about the pace of monetary tightening and the risks of a recession. RBNZ leading [..]

Technical Analysis – NZDUSD in quiet trading ahead of US CPI inflation

Posted on August 10, 2022 at 7:20 am GMT

NZDUSD has been silent since Monday’s negligible pickup, which put the market in the green territory on a weekly basis, trading flat at 0.6280 ahead of the US CPI inflation early on Wednesday. The pair is currently trying to build a floor around the 50-day simple moving average (SMA) at 0.6274 following the bounce on the 20-day SMA and the lower boundary of the short-term bullish channel on Monday, but the technical oscillators are barely promoting any meaningful rebound at the [..]

Technical Analysis – NZDUSD pauses rebound but retains positive bias

Posted on August 3, 2022 at 7:18 am GMT

NZDUSD has been in a prolonged downtrend since March when it peaked at the 0.7032 region. Although the price has managed to regain some lost ground after its downfall ceased at the 26-month low of 0.6059, its latest rebound was recently rejected at the lower boundary of the Ichimoku cloud. The short-term oscillators suggest that bullish forces remain in control, but positive momentum is waning. Specifically, the RSI is hovering slightly beyond the 50-neutral mark despite its latest drop, while [..]

Daily Market Comment – US-China tensions dent appetite as yields crumble, dollar creeps higher

Posted on August 2, 2022 at 9:36 am GMT

Stocks turn red amid renewed Sino-US tensions as Pelosi expected in Taiwan Yen extends winning streak, dollar also catches a bid as bond yields skid Aussie plummets after RBA decision, pound rally loses steam too as BoE eyed Threat of geopolitical flare-up dampens mood Risk sentiment took a knock on Tuesday as it emerged that the Speaker of the US House of Representatives Nancy Pelosi is on her way to Taiwan, defying China’s strong advice against visiting the disputed territory. [..]

Week Ahead – Bruised dollar looks to NFP report; BoE could speed up rate hikes

Posted on July 29, 2022 at 12:01 pm GMT

The coming week is shaping up to be another crucial one for gauging recession risks and monetary policy paths. It’s NFP week in the United States and the RBA and Bank of England will decide whether to accelerate their hiking cycles. The ISM PMIs are bound to attract a lot of attention as well in the US as growth concerns intensify. Elsewhere, employment figures in Canada and New Zealand, and manufacturing PMIs out of China will be the highlights. Meanwhile, [..]

Technical Analysis – NZDUSD rangebound after rebound stalls at 50-SMA

Posted on July 27, 2022 at 7:50 am GMT

NZDUSD has been in a extended downtrend since March when it peaked at the 0.7032 region. Although the price has managed to regain some lost ground after its downfall ceased at the 26-month low of 0.6069, it is currently being held down by the congested region that includes its 50-day simple moving average (SMA) and the upper Bollinger band. The short-term oscillators suggest that the positive momentum is waning. Specifically, the RSI has crossed below its 50-neutral threshold, while the stochastic oscillator is [..]

Technical Analysis – NZDUSD rebounds strongly, eyeing at 50-SMA

Posted on July 25, 2022 at 12:58 pm GMT

NZDUSD has been in a steady decline since March when it peaked at the 0.7032 region. However, in the last few daily sessions, the price has been in recovery mode after it managed to halt its downfall at the 26-month low of 0.6069, currently aiming to challenge its 50-day simple moving average (SMA) and the upper Bollinger band. The short-term oscillators suggest that positive momentum is strengthening. Specifically, the RSI has crossed beyond its 50-neutral threshold, while the MACD histogram [..]

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