All Articles Tagged - NZDUSD

A September Fed rate cut could lead to an easing spree during end-2024 – Special Report

Posted on July 12, 2024 at 10:45 am GMT

Market prices in at least two rate cuts from Fed ECB, BoE expected to follow suit despite divergent economic conditions SNB and BoC could ease further; RBNZ possibly close to a summer rate cut BoJ and RBA could surprise with rate hikes during 2024 We are halfway into 2024 and the countdown for this year’s key event, the US presidential election, has already started. With geopolitics taking a backseat lately, despite both the Ukrainian-Russian and Israeli-Hamas conflicts remaining unresolved, political risk is [..]

Week Ahead – ECB set to hold rates, plethora of data on the way

Posted on July 12, 2024 at 10:03 am GMT

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States UK CPI report will be vital for BoE’s August decision China GDP data to kickstart busy week ECB meets amid sticky inflation The European Central Bank concludes its two-day policy meeting on Thursday but no change in interest rates is anticipated after trimming them by 25 basis points at last month’s gathering. The [..]

Market Comment – Wounded dollar awaits inflation numbers

Posted on July 11, 2024 at 7:57 am GMT

Powell’s testimony dents the dollar US CPI data could deepen the wounds Pound gains as BoE’s Pill dampens August cut bets Wall Street at new highs, gold gains as well Dollar softens ahead of CPI data The US dollar drifted south against most of its major peers on Wednesday, gaining some ground only against the yen, the franc, and the kiwi. What may have allowed dollar traders to maintain their short positions was Powell’s testimony before the House Financial Services [..]

Market Comment – Stocks undaunted by Powell’s mixed tone

Posted on July 10, 2024 at 7:55 am GMT

US stocks rally continues after Chairman Powell’s comments French developments and ECB doves keep euro in check China reacts to bond market rally, but real issues persist Kiwi under pressure as RNBZ turns dovish US stocks rally despite Powell’s lack of dovish shift Fed Chairman Powell kept the cards close to his chest regarding the timing of the much-expected rate cut at yesterday’s Senate testimony, but he managed to satisfy the Fed doves by stating that considerable progress has been made [..]

Technical Analysis – NZDUSD tumbles after RBNZ’s decision

Posted on July 10, 2024 at 7:26 am GMT

NZDUSD finds support at 200-day SMA Prices have been heading lower over the last month Stochastics and RSI keep downside move NZDUSD is posting notable losses after the RBNZ’s policy decision to leave interest rates unchanged at 5.5%. The pair is pausing its decline near the 200-day simple moving average (SMA) at 0.6070 and the short-term ascending trend line. Technically, the stochastic oscillator posted a bearish crossover within its %K and %D lines near the overbought region, while the RSI [..]

Weekly Technical Outlook – USDJPY, GBPUSD, NZDUSD

Posted on July 8, 2024 at 1:38 pm GMT

USDJPY faces minor injuries after higher US jobless rate; Powell’s testimony next on the agenda GBPUSD surprasses key obstacle as UK gets new government; monthly GDP data on the agenda NZDUSD waits for RBNZ rate decision; bullish outlook above 0.6188-0.6200 Fed chairman to testify on economy –> USDJPY US employment increased at a surprisingly solid pace of 206k on Friday, beating analysts’ forecasts of 190k jobs, but a faster-than-expected rise in the unemployment rate made investors more certain that a rate cut could take place as soon [..]

Spotlight on kiwi as RBNZ decides on rates next week – Preview

Posted on July 5, 2024 at 1:41 pm GMT

Interest rates expected to hold stable at a 15-year high of 5.5% NZ inflation is still problematic; will the RBNZ talk about a rate hike again? NZDUSD bulls have some work to do; must surpass 0.6188-0.6200 to gain more fuel Kiwi has poor performance The New Zealand dollar has faced difficulties this year in its exchange rate with other major currencies. Lower interest rates in Japan and Switzerland offered a minor advance to the kiwi against the yen and [..]

Week Ahead – Round two of French elections, Powell testimony and US CPI

Posted on July 5, 2024 at 9:44 am GMT

French parties race to block Le Pen’s RN Powell testifies before Senate Banking Committee US CPI data to shake Fed rate cut bets RBNZ to leave OCR untouched, focus on language Euro traders keep gaze locked on French election Traders will be sitting on the edge of their seats on Sunday, in anticipation of Monday’s open and what market impact the second round of the French election will have. The far-right National Rally (RN) led the first round last [..]

Technical Analysis – NZDUSD meets support at 38.2% Fibo

Posted on July 3, 2024 at 8:08 am GMT

NZDUSD is in a steady decline since early June Completion of golden cross fails to trigger a recovery Oscillators are tilted to the bearish side NZDUSD had been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, surging to a six-month high of 0.6220 in June. However, the pair has come under severe selling pressure since then, with the 200-day simple moving average (SMA) preventing further declines for now. Should the bears attempt to push the price lower, immediate [..]

Technical Analysis – NZDUSD struggles to fall beneath 200-day SMA

Posted on June 28, 2024 at 11:36 am GMT

NZDUSD holds in downside move after pullback off 3-month high Momentum oscillators head south NZDUSD is battling with the 50- and the 200-day simple moving averages (SMAs) in the daily chart, holding slightly below the previous bottom of 0.6080. Technically, the RSI indicator is falling from the 50 level and is pointing down, while the MACD is flirting with the zero level. More downside pressures could send the bears to the 0.5940-0.5980 support region but first the price needs to [..]

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