All Articles Tagged - NZDUSD

Daily Market Comment – Ukraine summit hopes lift euro, gold elevated but off highs

Posted on February 21, 2022 at 10:51 am GMT

Biden and Putin agree to hold talks as Russia and Ukraine on the brink of war Gold’s advance halted at $1,900/oz as risk tone recovers Euro is revived, strong PMIs help too; dollar and yen pull back Ukraine headlines remain in driving seat Simmering tensions over Ukraine continued to keep investors on edge at the start of the new trading week even as hopes of a peaceful resolution for the crisis were kept alive by a last-ditch effort by France. [..]

RBNZ policy decision: Selling the news or a bullish surprise? – Forex News Preview

Posted on February 18, 2022 at 2:09 pm GMT

The Reserve Bank of New Zealand, the current king of the global tightening cycle, is expected to deliver its third rate hike in five months with full certainty when its policy meeting concludes on Wednesday at 01:00 GMT. Despite that, the kiwi remains a laggard in the FX space, losing more than 2.0% against the US dollar year-to-date, and if someone believes that the policy decision will change its fortunes this time, they’d better not hold their breath. Interest [..]

Week Ahead – PCE inflation, flash PMIs, RBNZ meeting lined up as Ukraine tensions linger

Posted on February 18, 2022 at 2:05 pm GMT

The Reserve Bank of New Zealand is poised to raise interest rates for a third time next week. But will it pull the 50 basis points trigger this time, setting a precedent for other central banks? In a week where PCE inflation numbers will be in focus in the United States, the RBNZ’s actions could have rippling effects for Fed policy speculation. Elsewhere, the flash PMI readings for February will be the centre of attention as consumers face a growing [..]

Weekly Comment – RBNZ and PMI data eyed as geopolitical tensions remain ‘hot’

Posted on February 18, 2022 at 1:48 pm GMT

Geopolitical tensions in Eastern Europe seem to be driving the risk-off sentiment in global markets. Moreover, Fed minutes have dialed back bets for an aggressive 50 basis points interest rate hike in March, hurting the US dollar. In the upcoming week, interest rate decisions from New Zealand and a raft of PMI data from most major economies take center stage, together with the US PCE price index and BoE’s Governor testimony. Highlights: Flash PMI data for February in the Eurozone, UK and Japan [..]

Technical Analysis – NZDUSD breaks above its 200-SMA; positive bias strengthens

Posted on February 18, 2022 at 8:28 am GMT

NZDUSD has powered back from its 16-month low in late January, as positive momentum resurfaced. Moreover, the pair has recently crossed above its 50- and 200-period simple moving averages (SMAs), which is another sign that the outlook might be turning bullish. Short-term momentum indicators are also reflecting a positive bias as the RSI is hovering above its 50 neutral mark. In addition, the MACD is found above zero and its red signal line, which indicates that the positive momentum may [..]

US Open Note – FOMC minutes next on the radar; Canada CPI surprises

Posted on February 16, 2022 at 2:05 pm GMT

US retail sales beat estimates; FOMC minutes next on the agenda The minutes of the Federal Reserve’s last meeting are on investor’s radar today and will be looking for details on its plans to reduce its enormous balance sheet and raise interest rates in 2022, as well as its evolving outlook on inflation. At the meeting on January 25-26, policymakers agreed that raising the Fed’s benchmark overnight interest rate from near-zero would be “soon appropriate” and discussed the future of the $9 trillion in securities owned by the central bank. [..]

Technical Analysis – NZDUSD looks for a bullish breakout but how far could it go?

Posted on February 16, 2022 at 8:38 am GMT

NZDUSD refused to return to the bottom of its downtrend earlier this week, pivoting once again near the 0.6600 round level to retest the 20-day simple moving average (SMA) at 0.6640, which has been constraining bullish actions for almost a week now. The way higher, however, looks to be bumpier and the bulls will need to breach a few more barriers before they stage a meaningful rally. The RSI and the MACD are also reflecting some caution among traders. Although they [..]

Technical Analysis – NZDUSD unable to shake bearish tilt

Posted on February 15, 2022 at 4:06 pm GMT

NZDUSD is consolidating just beneath the 50- and 100-period simple moving averages (SMAs) and across the 0.6588-0.6600 support border that has managed to keep downside forces at bay, after advances in the pair were curbed by the 200-period SMA. Overall, the SMAs are backing the pair’s bearish tendency. The short-term oscillators suggest a minor pickup in positive momentum, which is still relatively weak. The MACD, in the negative zone, is just underneath its red trigger line, while the RSI is [..]

US Open Note – As Russia-Ukraine tensions persist, the dollar strengthens

Posted on February 14, 2022 at 2:02 pm GMT

Ukraine tensions and FOMC minutes in focus; dollar rises As the United States fears that an invasion may be approaching, tensions over Russian forces stationed near Ukraine are entering what might be a pivotal week. The United States is warning of an imminent invasion, while President Vladimir Putin has accused America of failing to satisfy his demands. Russia has denied it is preparing to invade Ukraine, and Chancellor Olaf Scholz of Germany is travelling to Kyiv today, a day before visiting Moscow to calm the issue. This week’s focus is on the [..]

US Open Note – US inflation hits fastest pace in four decades

Posted on February 10, 2022 at 2:27 pm GMT

CPI data come in ‘hot’; dollar surges US inflation for January has reached its highest level since February 1982, with the headline CPI rate coming hotter-than-expected at 7.5%. The core CPI measure rose to 6% from 5.5% y/y, while the m/m number came in at 0.6% compared to consensus estimates of 0.5%. The elevated readings could further increase bets for more aggressive interest rate hikes, inducing more volatility into the stock and bond markets. In the aftermath of the inflation data [..]

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