All Articles Tagged - NZDUSD

Daily Market Comment – Dollar whipsaws after not-so-soft inflation data, stocks sink again

Posted on May 12, 2022 at 9:20 am GMT

Dollar on the front foot again after US inflation falls by less than expected Equity markets back in a sea of red as recession risks rise Pound slips to new lows after UK GDP contracts, hawkish ECB can’t save the euro Dollar bolstered as inflation becoming more sticky The US dollar climbed to fresh 20-year highs on Thursday as investors ramped up their bets that the Federal Reserve will have to get even more aggressive to bring down burgeoning inflation [..]

Technical Analysis – NZDUSD sinks to fresh 2-year low; bearish bias intact

Posted on May 12, 2022 at 7:33 am GMT

NZDUSD switched to a bearish mood again on Thursday after a neutral session, stretching its downtrend to a fresh two-year low of 0.6235. In technical indicators, the MACD remains negatively charged below its red signal line, while the RSI and the Stochastics have no intention of exiting the oversold territory, though they keep a foothold around their previous lows, signaling a cautiously bearish bias. The next opportunity for a rebound could be nearby at 0.6160. This is where market actions faced limitations [..]

US Open Note – US CPI beats expectations and rises by 8.3%; dollar moves up again

Posted on May 11, 2022 at 1:36 pm GMT

The CPI rate ticked up by 8.3% in the year that ended in April. The annual CPI decrease was the first since August, but it was the eighth month in a row of gains of more than 6%. In March, the Consumer Price Index (CPI) rose 8.5% year-over-year, the highest increase since December 1981. After the release of higher-than-expected CPI figures, the dollar initially rose. The dollar index is showing positive signs as it jumped beyond 104.00; however, US futures are leading lower, suggesting a [..]

Daily Market Comment – Mood brightens slightly ahead of US CPI as investors eye peak

Posted on May 11, 2022 at 9:25 am GMT

Dollar stays subdued as US CPI data awaited for clues on peak inflation Euro edges up as ECB preps for summer rate hike Equities attempt a rebound, falling infections in China lend some support Dollar slips before US inflation reveal Markets were in a cautiously optimistic mood ahead of the April inflation report out of the United States later on Wednesday, as investors geared up for a possible soft print this time after months of acceleration in the headline figure. [..]

US Open Note – Dollar steadies as it awaits US CPI data

Posted on May 10, 2022 at 12:50 pm GMT

Fed speakers today and US CPI tomorrow in focus This week, Fed speakers will be out in full force to disseminate the latest views of the central bank. Each one of these officials has a chance to share their thoughts on current policy. Barkin did this last week and put 75 bp back on the table, stressing that he wants to raise rates “as quickly as possible.” Others at the Fed are also likely to adopt a more hawkish outlook in the coming days. But the main thing to [..]

Daily Market Comment – Stocks steadier after Wall Street selloff, dollar eases

Posted on May 10, 2022 at 9:10 am GMT

S&P 500 plunges below 4,000, Nasdaq crashes 4%, but futures turn positive today Dollar edges down as yields cool off slightly ahead of Fed speakers, US CPI Oil remains under pressure as EU waters downs Russian oil embargo Stock market rout deepens Equity markets have steadied on Tuesday as investors licked their wounds following the heavy losses at the start of the week that extended the post-Fed meeting selloff. Growth and mega-cap tech stocks led the carnage on Wall Street [..]

Technical Analysis – Will NZDUSD confirm a bullish star doji pattern?

Posted on May 4, 2022 at 7:23 am GMT

NZDUSD is creating a bullish star doji on Tuesday after it dropped to a new 22-month low of 0.6410 and if the price heads higher, it could confirm a positive move in the short-term timeframe. However, the technical indicators are still suggesting a negative bias. The MACD oscillator is still strengthening its bearish move below its trigger and zero lines, while the RSI is standing in the oversold territory and is sloping down. Should prices decline, immediate support could be [..]

US Open Note – US Stock futures steadier, dollar ticks slightly lower

Posted on May 3, 2022 at 2:37 pm GMT

US Treasury yields support greenback, JOLTS data eyed This is nonfarm payrolls week, and we also have central banks meeting to deliver their rate hike decisions. Today, the Federal Open Market Committee (FOMC) began its two-day meeting on interest rate policy, which will be submitted on Thursday. US stock futures have recouped earlier weakness on the back of investor jitters ahead of the Federal Reserve’s policy decision. In the presence of hot inflation and a hawkish Fed, US treasury yields remain elevated [..]

Week Ahead – Fed and BoE rate hikes on the horizon; will RBA join in?

Posted on April 29, 2022 at 12:37 pm GMT

The Federal Reserve and Bank of England are both expected to raise interest rates in the upcoming week, though the former will likely do so by a larger increment. However, it’s much more of a puzzle what the Reserve Bank of Australia will do as pressure is mounting on the central bank to get the rate hike ball rolling in May rather than in June. It will also be a busy week for jobs data as apart from the all-important [..]

Technical Analysis – NZDUSD weighs on key support base as sellers step up

Posted on April 27, 2022 at 8:23 am GMT

NZDUSD is tracing the lower Bollinger band and is just shy of retesting the 16-month low of 0.6528, which is the upper border of the critical 0.6487-0.6528 foundation, moulded by the troughs over the mid-July until end of September 2020 period. The rolling over of the 50-day simple moving average (SMA) is hinting that downward pressures are strengthening, while the longer-term 100- and 200-day SMAs continue to sponsor a bearish trend. Presently, the short-term oscillators are skewed to the downside, [..]

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