All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD storms to multi-year lows as downside pressures intensify

Posted on July 5, 2022 at 3:05 pm GMT

NZDUSD has been in a sustained downtrend since April, generating a profound structure of lower highs and lower lows. Moreover, in its latest daily session, the price formed a fresh two-year low, while it is currently trading beneath its lower Bollinger band, painting a gloomy technical picture for the pair. The momentum indicators reflect a bearish near-term bias. Specifically, the MACD histogram is found below both zero and its red signal line, meanwhile the RSI is hugging the 30-oversold mark. [..]

Daily Market Comment – Dollar softer after spike as Fed rate hike bets recede further

Posted on July 4, 2022 at 9:04 am GMT

Markets steadier despite recession signs as Fed tightening bets scaled back Dollar edges down while lower yields shore up Wall Street Aussie leads the gainers ahead of expected RBA rate hike A fragile calm amid recession red flags Trading got off to a relatively calmer start on Monday, with the US dollar backing away from more than two-week highs and global equities moving higher on the back of Wall Street’s gains on Friday. European government debt was under slight pressure [..]

Technical Analysis – NZDUSD is back to multi-month lows; negative momentum prevails

Posted on June 29, 2022 at 7:07 am GMT

NZDUSD is recording another day of losses after a failed attempt to break significantly above the 0.6395 resistance level and the short-term descending trend line. Chances for a reversal, however, are decreasing as the 20-day simple moving average (SMA) dropped below the 40-day SMA, while the red Tenkan-sen line has a steeper negative slope now, suggesting that the next move in the price is more likely to be down. The MACD continues to strengthen to the downside and below its red signal [..]

Daily Market Comment – Dollar stalls, stocks given a lifeline as rate hike bets scaled back

Posted on June 24, 2022 at 9:21 am GMT

European and US PMI data underscore recession risks, dampen price outlook Falling commodity prices add to reduced inflation expectations Investors go back to the drawing board for central bank rate hike paths Stocks rejoice as yields slip too, but dollar consolidates Recession risks loom large Speculation that the major economies in Europe and America are on the verge of tipping into a recession continues to intensify as the flash PMI reports for June have provided fresh evidence that growth is [..]

Daily Market Comment – Wall Street bounces back but recession fears return to haunt markets

Posted on June 22, 2022 at 8:58 am GMT

US stocks join global stock rebound but rally fizzles out already Recession fears intensify again ahead of Powell testimony Oil sinks as White House gets serious about lowering gasoline prices Dollar firmer, euro and pound find some support as aussie and kiwi sink Risk appetite fades amid renewed growth jitters Worries about soaring inflation and stalling growth were weighing on the market mood again on Wednesday as an increasing number of investors, including high-profile names such as Elon Musk, upped [..]

Technical Analysis – NZDUSD eyes June’s lows as bears regain control

Posted on June 22, 2022 at 7:28 am GMT

NZDUSD resumed its slide on Wednesday, bringing the key 0.6335 – 0.6195 bottom area back under the spotlight after a four-day-long unsuccessful battle with the red Tenkan-sen line. The RSI and the MACD remain negatively charged within the bearish zone, while the negative intersection between the red Tenkan-sen and blue Kijun-sen lines is another indication that the bears may hold onto control in the coming sessions. Should the price close below 0.6235, the former resistance zone around 0.6160 may immediately attract some [..]

Daily Market Comment – A calmer start after torrid week, spotlight on Powell testimony

Posted on June 20, 2022 at 9:09 am GMT

Dollar eases off as risk appetite makes a tepid return, US futures edge up Euro climbs despite Macron losing parliamentary majority Fed hawks downplay recession risks but investors cautious ahead of Powell Commodity prices remain pressured after sharp selloff Panic selling pauses for now as yields pull back Markets got off to a steadier start on Monday following last week’s turmoil that tipped the S&P 500 officially into a bear market. Fears about high inflation forcing central banks’ hands to [..]

Technical Analysis – NZDUSD bounces off 25-month low below 0.6200

Posted on June 15, 2022 at 6:48 am GMT

NZDUSD is trying to recoup significant losses that were posted in the previous eight days, recording a new 25-month low below the 0.6200 round number. The 20- and 40-day simple moving averages (SMAs) appear ready to post a bullish crossover in the short-term, while the technical indicators are confirming the recent positive move. The RSI rebounded off the oversold region, and the stochastic oscillator created a positive cross within its %K and %D lines below the 20 level, both suggesting that the aggressive selling interest may end [..]

Kiwi caught in Fed and inflation crossfire, New Zealand GDP might not help – Forex News Preview

Posted on June 14, 2022 at 2:38 pm GMT

New Zealand’s economy has had a bumpy but strong recovery from the pandemic lockdowns and data due on Thursday (Wednesday, 22:45 GMT) is expected to show GDP kept expanding in the first quarter. The healthy economic backdrop has allowed the Reserve Bank of New Zealand to ramp up rate increases as inflation has skyrocketed. But the local dollar has not been able to enjoy much of a boost from tighter monetary policy as the market turmoil from inflation and recession [..]

Daily Market Comment – ECB stokes recession, debt fears; dollar rally cools but stocks struggle still

Posted on June 10, 2022 at 9:18 am GMT

Hawkish ECB spurs Eurozone yields to multi-year highs but euro flounders Dollar reclaims FX crown as all eyes now turn to US CPI report Growth and inflation worries dog equities but China bucks trend despite new lockdowns ECB joins global inflation fight, roils markets The European Central Bank laid out a path to terminating all asset purchases and launching a series of rate hikes on Thursday as it sharply raised its inflation forecasts. But although the move was widely expected [..]

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