All Articles Tagged - NZDUSD

Daily Market Comment – Stocks buoyant ahead of US CPI, dollar holds steady

Posted on February 10, 2022 at 9:50 am GMT

Wall Street extends climb out of January pit, but futures ease as CPI data awaited Dollar edges sideways as traders seek direction from US price growth Gold hits two-week high amid uncertainty about inflation and Fed policy Stocks turn cautious before US inflation release The improved risk tone is holding ahead of the all-important inflation numbers out of the United States later on Thursday. Stocks on Wall Street jumped higher for a second day on Wednesday, erasing the losses from [..]

Technical Analysis – NZDUSD crosses above its 50-SMA; positive bias arises

Posted on February 10, 2022 at 8:45 am GMT

NZDUSD has powered back from its 16-month low in late January, as positive forces resurfaced. Moreover, the pair has recently crossed above its 50-period simple moving average (SMA), which is another sign that the outlook may 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 recent positive momentum might be [..]

US Open Note – US CPI data still key as today’s 10-year yield drop aids wall street

Posted on February 9, 2022 at 2:22 pm GMT

Market jitters keep volatility faint and dollar remains glued on back foot The US 10-year yield deflated to 1.927% today keeping the reserve currency on offer, with the dollar index near the lower end of its recent range at 95.40, which provided US stock futures with freshly welcomed buoyancy for a test of the latest peaks following their deep corrections from all-time highs. Nonetheless, market sentiment is still looking fragile awaiting additional volatility from the upcoming US inflation event. [..]

Technical Analysis – NZDUSD looks bearish in medium-term; holds below downtrend line

Posted on February 9, 2022 at 7:59 am GMT

NZDUSD is struggling to gain strong positive momentum after its fast rebound from the 16-month low of 0.6524, stalling around the 20-day SMA, which overlaps with the 23.6% Fibonacci retracement level of the downward move from 0.7220 to 0.6524 at 0.6687 and within the 0.6700 psychological level. The flattening mode in the RSI in the negative zone and the marginal positive move in the MACD below its zero level, justify the weak buying pressure keeping the short-term risk skewed to [..]

US Open Note – Yields elevated but dollar struggles to hold onto minor gains

Posted on February 8, 2022 at 1:36 pm GMT

US stock futures shaky and hawkish Lagarde backtracks Market nerves are heightened at the start of this week as long echoed factors like supply disruptions, hot employment and wage growth, are clearly revealing strong developments in price pressures, which has had global central bank action shift up a gear in one way or another. The market feeling is that central banks have been nudged on to the wagon of vigilance, ready to pounce on inflation if it starts to seriously [..]

US Open Note – Market sentiment muted and dollar holds firm

Posted on February 7, 2022 at 2:19 pm GMT

Markets prepare for ECB’s Lagarde as calmer tone overshadows prior rollercoaster week Moving past the previous heavy week of data and central bank meetings, the current week looks to be much quieter. The market mood is suggesting that the right boxes are getting ticked for the Fed to move ahead with tightening and a rate hike in March, especially after the huge win in the US labour market, where the US jobs report improved by 467k, more than triple the [..]

Week Ahead – US inflation in the spotlight again, UK GDP eyed too

Posted on February 4, 2022 at 12:22 pm GMT

The skidding US dollar will be looking to the January inflation readings out of the United States to reverse its decline as financial markets enter a somewhat quieter week. UK GDP growth numbers will be the other highlight as the pound’s rally lost steam after the Bank of England sent some mixed signals on the economy. The kiwi might find some love should the RBNZ’s own survey show inflation expectations are creeping higher in New Zealand. However, with earnings releases [..]

Technical Analysis – NZDUSD struggles to overpower bearish tone

Posted on February 3, 2022 at 3:43 pm GMT

NZDUSD is making efforts to close beyond the 0.6659 barrier and the upper band of the Ichimoku cloud around 0.6680 after gaining some momentum from the 16-month low of 0.6528. The falling simple moving averages (SMAs) are defending the broader bearish trend in the pair. That said, the climbing Ichimoku lines are implying that upside forces are still active, while the short-term oscillators suggest positive momentum is growing. The MACD, slightly above zero, is improving above the red trigger line, [..]

Technical Analysis – NZDUSD bounces at 16-month low but bearish tone persists

Posted on February 2, 2022 at 11:20 am GMT

NZDUSD buyers emerged around the 0.6528 mark just shy of a key support base of the broader uptrend, where a five-month rally in the pair began, recording a 3½-year high of 0.7464. The diving simple moving averages (SMAs) are shielding the bearish mood in the pair. Currently, the Ichimoku lines are indicating a pause in downward forces as buyers are opposing the decline. Moreover, the short-term oscillators are reflecting the fresh surge in positive momentum, which evolved at the 16-month [..]

Kiwi recovers ahead of New Zealand employment report – Forex News Preview

Posted on January 31, 2022 at 2:34 pm GMT

New Zealand will release its employment report on Tuesday at 21:45 GMT for the fourth quarter of 2021 at the time when the kiwi is recouping some of the big losses of the preceding week. After the initial Covid lockdown in 2020, the New Zealand economy quickly recovered, and by mid-2021, activity had returned to pre-pandemic levels. Thus, domestic prices are rising, and demand for labor is increasing despite the border barrier limiting employment growth. The Reserve Bank of New Zealand (RBNZ) has behaved [..]

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