All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD plunges below 0.6800 and the uptrend line

Posted on April 13, 2022 at 7:13 am GMT

NZDUSD is moving back to a negative ground after it failed to cross above the short-term uptrend line in the preceding days. The MACD oscillator is losing momentum below its trigger line and around the zero level, while the RSI is pointing south in the negative territory, both suggesting that the next move could be to the downside. In the bearish scenario where the 38.2% Fibonacci retracement level of the down leg from 0.7220 to 0.6524 at 0.6790 halts upside movements, the [..]

US Open Note – Dollar turns lower after CPI data; oil climbs by 4%

Posted on April 12, 2022 at 1:15 pm GMT

US CPI surpasses forecast, rising to 8.5% Interest rates in the United States continue to rise. The 10-year yield traded near a fresh cycle high of 2.83% and is on course to hit the October 2018 high of 3.26%. This has sent the dollar index beyond the 100 mark for the first time in over two years but after the CPI data, it returned near its opening level, while dollar/yen is hovering below the six-and-a-half-year high of 125.76 posted yesterday. The [..]

Daily Market Comment – Rising yields start to spook equity markets, dollar crushes rivals

Posted on April 12, 2022 at 9:19 am GMT

Stock market selloff accelerates as investors begin to panic about soaring borrowing costs Dollar climbs to new highs as yen slumps again, eyes US inflation data Oil bounces off lows after China eases Shanghai lockdown, gold attracts some bids Stocks back in the doldrums Equity markets remained in the red on Tuesday as global bond yields extended their ascent to multi-year highs, freaking out jittery investors already on edge about the dimming growth outlook following Russia’s invasion of Ukraine. The [..]

Will the RBNZ increase rates by 25 or 50 bps? – Forex News Preview

Posted on April 11, 2022 at 9:53 am GMT

Early on Wednesday the Reserve Bank of New Zealand will begin its monetary policy meeting and it could be significant as it could become the first central bank to hike interest rates by a sizeable 50 basis points. After raising interest rates three times already, there’s a considerable possibility the Reserve Bank of New Zealand will choose for a more significant hike in April. RBNZ expects to hike rates; 25 or 50 bps? The Reserve Bank of New Zealand increased its OCR by 25 basis [..]

Daily Market Comment – Dollar powers ahead as US yields keep surging; central banks in focus

Posted on April 11, 2022 at 9:38 am GMT

Dollar at 2-year high as Treasuries rout deepens, puts Wall Street on backfoot ahead of earnings Euro edges up after Macron survives round 1 of election, spotlight now on ECB Chinese yuan and stocks slip amid lockdown havoc, oil can’t take the heat either US real yields approach zero, dollar shines, stocks pay the price The Fed’s latest tilt towards the far hawkish end of the dove-hawk scale continued to reverberate across markets on Monday, giving the US dollar another [..]

Week Ahead – BoC and RBNZ to hike big, ECB to bide its time

Posted on April 8, 2022 at 12:15 pm GMT

It’s going to be a major week for central banks ahead of the long Easter weekend, with three meetings on the way and rate hikes looking almost certain to be the outcome of at least two of them. So the spotlight will fall on the Bank of Canada, Reserve Bank of New Zealand and European Central Bank for much of the week. Although economic data will also be ample – inflation numbers will be watched in China, the United States [..]

Technical Analysis – NZDUSD’s bullish tone persists but ascent gets delayed

Posted on April 6, 2022 at 9:22 am GMT

NZDUSD’s upside momentum has softened above the simple moving averages (SMAs) after a persisting two-month uptrend spiked toward the upper Bollinger band at 0.7033. The negative slopes of the longer-term 200- and 100-day SMAs have eased, while the upturn in the 50-day SMA and its bullish crossover of the 100-day SMA reaffirms that the near-term uptrend from the 0.6528 trough is strengthening. The short-term oscillators are conveying that the recent weakness in upside momentum may be short lived. The MACD, [..]

US Open Note – Market risk-off vibe portrays subtle volatility

Posted on April 5, 2022 at 1:45 pm GMT

Dollar benefits from rising yields; US ISM Services PMI eyed As things stand, the current driving impulses seem to be having an insignificant effect on markets heading into tomorrow’s FOMC minutes. The markets’ response remains muted also to the growing possibility that new economic sanctions on Russia from the West may be in the pipeline considering the fresh suspected atrocities in Ukraine, as they intend to isolate Moscow and hinder it from meeting its debt payments. Nonetheless, a subdued picture [..]

US Open Note – US stock futures lose upside momentum as market sentiment thins

Posted on April 4, 2022 at 1:47 pm GMT

Higher yields aid dollar, while euro remains heavy even as CPI spike jolts ECB A risk-off vibe seems to have overshadowed US stock futures as positive sentiment is lacking at the start of this week. The S&P 500 has managed to hold above its 200-day simple moving average (SMA) around 4,550, while the Dow Jones 30 and Nasdaq 100 composites have stabilized after a pullback below their respective longer-term 200-day SMAs at 35,057 and 15,167. Higher US yields are underpinning [..]

Technical Analysis – NZDUSD aims for an uptrend resumption

Posted on March 30, 2022 at 10:56 am GMT

NZDUSD is trading positive for the second consecutive day, flirting with last week’s high of 0.6987 after finding strong support near the 20-day simple moving average (SMA) and the 50% Fibonacci retracement of the 0.7217 – 0.6528 downleg. Technical signals are neutral-to-bullish at the moment as the RSI has resumed its positive momentum after marking a lower low above 50. The Stochastics are set for a bullish cross, while the MACD is preserving some strength above its red signal line, but [..]

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