All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD breaks downtrend line to the upside

Posted on July 22, 2022 at 11:53 am GMT

NZDUSD penetrated the medium-term descending trend line to the upside in the previous couple of sessions, adding some optimism that a bullish correction is on cards. The price surpassed the 20-day simple moving average (SMAs) as well, while the technical indicators show some positive signs. The MACD oscillator is holding above its trigger line in the negative region, while the stochastic oscillator is standing in the overbought area, even though it is turning lower and a bearish cross within its %K and [..]

Daily Market Comment – Euro edges up on Nord Stream relief, awaits ECB outcome

Posted on July 21, 2022 at 9:04 am GMT

Euro buoyed as gas flows resume ahead of ECB decision, but turmoil in Italy Earnings lift S&P 500 to 6-week high but stocks mixed today Gold slumps to one-year low as it loses out to rising rates, bullish dollar All eyes on size of ECB rate hike and new bond tool The euro is clawing higher ahead of the European Central Bank’s widely anticipated interest rate rise – the first in 11 years – later today. There is some uncertainty [..]

Technical Analysis – NZDUSD in a recovery mood; 50-SMA next in focus

Posted on July 20, 2022 at 7:39 am GMT

NZDUSD saw its fortune improving in the short-term picture following the clear close above the 20-day simple moving average (SMA) on Tuesday, with the focus now being on the 0.6256 resistance. Encouragingly, the price has gained extra impetus today to climb above the descending trendline drawn from the 0.7032 peak. The technical oscillators are also mirroring increasing buying appetite as the RSI is strengthening its positive momentum above its 50 neutral mark and the MACD is distancing itself above its red signal [..]

Daily Market Comment – Stocks falter as Apple weighs but dollar remains soft, euro rallies

Posted on July 19, 2022 at 8:45 am GMT

Equity rebound stumbles as Apple dents optimism ahead of tech earnings Euro rebound gains traction on ECB sources as gas flow resumption awaited Dollar stays on the backfoot, aussie jumps on hawkish RBA minutes Wall Street looking shaky again amid uncertainties Market sentiment remained broadly positive on Tuesday but there was a greater sense of cautiousness amid worries about the earnings outlook, ongoing recession fears and some apprehension ahead of the policy decisions by the European Central Bank and Bank [..]

Daily Market Comment – Sentiment improves on data, easing Fed fears; stocks and euro edge up

Posted on July 18, 2022 at 9:14 am GMT

Strong US retail sales and softer inflation expectations lift Wall Street Dollar knocked off highs as 100-bps Fed rate hike bets pared back Euro tries to distance itself from parity but Italy and gas supply risks cap gains WTI oil tests $100 on summer demand after Biden’s Saudi trip bears no fruit Stocks set for positive start to week Equity markets got off to a buoyant start on Monday as recession panic continued to subside following some encouraging data out [..]

Week Ahead – Pressure mounts on ECB and BoJ after latest dollar surge

Posted on July 15, 2022 at 11:45 am GMT

After another sizzling-hot inflation report out of the United States, the European Central Bank and Bank of Japan will meet against the worrisome setting of their currencies plunging. The former is expected to launch its tightening cycle, but the latter may make a surprise policy move even though it has not signalled any action. It’s looking to be an eventful week on the data front as well, as the flash PMI estimates for July and inflation numbers are due in [..]

Daily Market Comment – US inflation report and BoC rate decision coming up

Posted on July 13, 2022 at 8:25 am GMT

Euro/dollar stabilizes around parity, awaits US inflation data for fuel Another round of selling hits stock markets and commodity prices RBNZ raises rates but markets barely react, Bank of Canada next You shall not pass The price action in euro/dollar has captivated the entire financial system this week as the bulls and bears battle it out for control of the parity level. It has been a stalemate so far, although that might change once the latest US inflation report is [..]

Technical Analysis – NZDUSD fails to post lower low below 26-month bottom

Posted on July 13, 2022 at 7:17 am GMT

NZDUSD is trading around the vicinity of 0.6095, that being the 26-month low as the pair failed on its third attempt third attempt to breach this level. Looking to the short-term oscillators, the MACD and the stochastic are promoting negative momentum. The MACD is strengthening below its trigger and zero lines, while the stochastic posted a bearish cross within its %K and %D lines near the oversold territory. Should buyers drive above the 0.6195 resistance, they could encounter initial strengthened resistance from the 20-day simple [..]

RBNZ set to hike rates again but kiwi slumps as outlook gets cloudier – Forex News Preview

Posted on July 11, 2022 at 3:28 pm GMT

The Reserve Bank of New Zealand is widely anticipated to stay on its rate hike course on Wednesday when it announces its latest policy decision at 02:00 GMT. A 50-basis-point rate increase is fully priced in by the markets so what investors will be on the lookout for is any changes to the rate outlook amidst all the talk of a recession. There is no press conference scheduled for the July meeting and the RBNZ will not be publishing any [..]

Week Ahead – US inflation on the menu, BoC and RBNZ to raise rates

Posted on July 8, 2022 at 10:15 am GMT

The summer calm will have to wait a little longer as the coming week is filled with crucial events. Canada and New Zealand are geared to raise interest rates, although their currencies are ultimately at the mercy of global recession risks. In China, it’s a close call whether the economy contracted in Q2. Most importantly, US inflation might finally be losing its punch. The dollar show The US dollar rally went into overdrive this week, leaving a trail of destruction [..]

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