All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD remains in a tight range around 0.6800

Posted on January 5, 2022 at 8:03 am GMT

NZDUSD is moving sideways in a tight range with the upper boundary the 0.6857 resistance and lower boundary the 13-month low of 0.6700. The price is still developing within the 20- and 40-day simple moving averages (SMAs) and the technical indicators are confirming the weak momentum. The RSI is moving near the neutral threshold of 50, while the MACD is standing above its trigger line in the negative region. If the price overcomes the 40-day SMA and the 0.6857 crucial [..]

US Open Note – Dollar hits five-year high against yen; OPEC next on the radar

Posted on January 4, 2022 at 1:45 pm GMT

Omicron virus does not affect economic recovery Despite concerns about the extremely contagious omicron virus subtype, investors are focusing on the economic recovery from the pandemic and central bank’s plans for stimulus reduction at this time. In the FX market, the focus today is on dollar/yen, which surged to a new five-year high of 116.33 as risk-on sentiment pressed safe-haven currencies such as the yen. It may be difficult for sellers to reverse the trend. The BOJ will stay the most dovish, so the weak [..]

US Open Note – US stock futures at record highs, dollar ticks slightly higher

Posted on December 30, 2021 at 2:28 pm GMT

Positive sentiment supported by strong US jobless claims US stock futures have managed to remain near record highs, while trading volumes have narrowed and liquidity is drying up as the trading doors near closure for 2021. The question at year end is what effects from the rapidly spreading Omicron variant will rollover into the new year, especially as infections have been hot. Also, how will economies start to fare in the new year with an environment where stimulus is diminishing, [..]

Daily Market Comment – Santa Claus rally takes a breather, dollar firms

Posted on December 29, 2021 at 9:37 am GMT

Stocks mixed after Wall Street rally fizzles out, but futures point up Dollar inches higher, yen firms too amid some Omicron worries Oil extends gains, gold pulls back despite soft Treasury yields Wall Street falters but party not over Equity markets were feeling somewhat less joyous on Wednesday after the S&P 500 failed in its bid to close above the 4,800 level for the first time and as Chinese tech stocks came under renewed selling pressure. The S&P 500 ended [..]

Technical Analysis – NZDUSD erases upside rally from 0.6700; bearish bias

Posted on December 29, 2021 at 8:59 am GMT

NZDUSD is retreating in the very short-term, after the pullback from the 0.6840 resistance and is heading towards the 20-day simple moving average (SMA). A drop below this line could endorse the bearish bias, sending the market towards the 13-month low of 0.6700. Beneath this line, the 0.6585 support and the 0.6510 level, taken from the low in November 2020 could be the next target. The technical indicators are still moving in the negative territories. The RSI is edging around [..]

US Open Note – Stocks imply a risk-on tone, greenback stabilizes around 96 mark

Posted on December 28, 2021 at 2:46 pm GMT

Dollar’s shine dulls in forex arena; are Omicron risks set to rise? The chaotic 2021 period is soon coming to an end and the lack of market driving news on today’s economic calendar is unlikely to help this year to leave with a bang. That said, major US index futures are persisting around their all-time highs suggesting that positive market sentiment may roll over into the new year. It seems that markets have become robust against fresh threats from the [..]

Daily Market Comment – Stocks lifted by new S&P 500 record, yen retreats

Posted on December 28, 2021 at 10:10 am GMT

Global stock markets get a lift from S&P 500’s latest dash to new all-time highs Dollar holds steady but yen on a broad pullback amid easing Omicron jitters Oil bounces back as demand worries subside, gold hits one-month high Wall Street’s Santa rally not over yet Shares on Wall Street continued to rally on Monday to notch up a fourth straight day of gains, pushing the benchmark S&P 500 index to a new all-time high of 4,791.19. Having started the [..]

US Open – Wall Street eyes new record highs

Posted on December 27, 2021 at 1:53 pm GMT

Dollar climbs; Pound continues its advance The US dollar ticked higher on Monday against a basket of currencies, while the 10-year Treasury yield remained relatively unchanged. The perceived risk-on mood which dominated the markets over the past week continues to weigh on the Japanese yen, which incurred significant losses today against the greenback. Furthermore, commodity based currencies such as the loonie, the aussie and the kiwi are struggling with the latter declining the most versus the euro and the dollar. Last week, the British [..]

Daily Market Comment – Cautious mood in holiday-thinned trade

Posted on December 27, 2021 at 10:03 am GMT

Asia drifts lower despite China support but European shares eye gains Rising virus cases put investors on edge as doubts re-emerge about Omicron impact Commodities pressured, dollar firms, pound advances Subdued start to final week of 2021 Markets were struggling for direction on Monday in what is the last trading week of the year. The optimism that the Omicron variant will not cause a major setback to the post-pandemic economic progress has been brought into question by the latest surge [..]

Technical Analysis – NZDUSD sellers hinder advances toward 200-MA

Posted on December 23, 2021 at 3:56 pm GMT

NZDUSD has retreated from the previous candle high of 0.6841 in the vicinity of the upper Bollinger band, hindering the latest ascent from the 0.6700 handle, where the pair logged 13-month lows. The 200-period simple moving average (SMA) is endorsing an extension of the two-month decline, while the 50- and 100-period SMAs are suggesting that a sideways market may be unfolding. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, in the positive region, is rising above [..]

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