All Articles Tagged - NZDUSD

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Technical Analysis – NZDUSD stretches ascending move to new 4-month high

Posted on March 23, 2022 at 8:44 am GMT

NZDUSD posted a fresh four-month high at 0.6973 today, but the bulls have yet to successfully breach the 61.8% Fibonacci retracement level of the down leg from 0.7220 to 0.6524 at 0.6950. The MACD oscillator is strengthening its momentum above its trigger and zero lines, whereas the RSI indicator is sloping slightly down around the 70 level. In trend indicators, the price is holding above the strong 200-day simple moving average (SMA), and the short-term SMAs are moving higher as well. If the pair overcomes [..]

Technical Analysis – NZDUSD’s minor uptrend prevails after deflection off 200-MA

Posted on March 16, 2022 at 9:50 am GMT

NZDUSD has generated positive traction off the 50-day simple moving average (SMA), which is bordering the tentative uptrend line pulled from the 16-month low of 0.6528. The longer-term 100- and 200-day SMAs are defending the broader bearish trend in the pair, while the flattened slope of the 50-day SMA, is hinting that the latest up wave remains active. The Ichimoku lines are indicating a pause in bullish forces, while the short-term oscillators are transmitting mixed signals in directional momentum. The [..]

Daily Market Comment – Buoyed sentiment ahead of peace talks; oil sinks on UAE supply signals

Posted on March 10, 2022 at 10:29 am GMT

Equities rally on hopes of a ceasefire as Russian and Ukrainian foreign ministers meet Oil recoups some losses after tumbling on possible supply increase by OPEC Euro drifts lower ahead of crucial ECB meeting, firmer dollar eyes US CPI data Cautious optimism for talks supports mood The first high-level talks between Russian and Ukrainian diplomats are due to take place later today, spurring some optimism in hard-trodden markets. The foreign ministers of Russia and Ukraine are meeting in Turkey and [..]

Technical Analysis – NZDUSD neutral with bullish potential

Posted on March 10, 2022 at 8:23 am GMT

NZDUSD shifted to the sidelines after Monday’s advance faltered near the 200-day simple moving average (SMA) and at a three-month high of 0.6924. Despite yesterday’s festive mood in the FX space, the pair could barely extract any gains, remaining constrained within its weekly range and the 0.6800 territory. That said, the technical picture is still promising. The 20- and 50-day SMAs have registered a bullish cross for the first time since October, while the RSI and MACD oscillators maintain a [..]

US Open Note – Dollar and US futures look steady; gold shines

Posted on March 8, 2022 at 1:49 pm GMT

Ukraine – Russia tensions; rouble continues the drop Russia-Ukraine peace talks have made no headway, and despite Germany’s resistance to a ban on Russian energy imports, oil futures have fallen from a 14-year high reached on Monday. Analysts expect the supply shock to linger and harm growth in the coming months. A convoy of buses are on their way to Mariupol to evacuate civilians from the southern port, which has been cut off from food, water, electricity, and heat for more [..]

Daily Market Comment – Stocks crushed by relentless rally in oil as Ukraine crisis deepens

Posted on March 8, 2022 at 10:10 am GMT

Commodities surge across the board, heightening fears about a global recession Crude oil hits $130 a barrel, gold soars past $2,000/oz, but dollar slightly softer today Selloff in euro and equities takes a breather for now after fresh lows Markets seek respite as fighting continues The fighting in Ukraine is intensifying and a third round of talks between Russian and Ukrainian officials has not led to much progress, but markets are nevertheless taking a breather from the recent turmoil on [..]

Week Ahead – ECB to lay out ‘patient’ stimulus exit; another eye-watering US CPI print expected

Posted on March 4, 2022 at 12:48 pm GMT

The European Central Bank’s much anticipated policy meeting and the latest consumer price index out of the United States will take centre stage next week amid the ongoing conflict in Ukraine. The crisis may not necessarily derail the ECB’s plans to normalize policy and a middle ground will likely be plotted. An expected jump in US inflation might have less impact this time following Jerome Powell’s endorsement for a 25-basis-point rate rise in March. Canadian employment numbers will also gather [..]

Technical Analysis – NZDUSD rejuvenates its one-month bullish climb

Posted on March 4, 2022 at 9:26 am GMT

NZDUSD has steered decisively beyond the 0.6800-0.6817 resistance border that has capped advances since mid-January and is looking buoyant. Above the 200-period simple moving average (SMA), the ascending 50- and 100-period SMAs continue to endorse the bullish structure. The rising Ichimoku lines are implying that positive forces are growing, while the short-term oscillators are reflecting the increase in positive momentum. The MACD, far north of the zero threshold, is strengthening above its flattened red trigger line, while the RSI is [..]

Technical Analysis – NZDUSD jumps higher but is capped by 38.2% Fibo

Posted on March 2, 2022 at 8:25 am GMT

NZDUSD is creating higher highs and higher lows in the short-term, following the rebound off the 16-month low of 0.6524. Currently, the price is failing to surpass the 38.2% Fibonacci retracement level of the down leg from 0.7220 to 0.6524 at 0.6790, with the technical indicators suggesting more bullish actions. The MACD is strengthening its positive bias above its trigger and zero lines, while the RSI is flattening in the bullish region. In trend indicators, the 20- and 40-day simple [..]

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