All Articles Tagged - NZDUSD

US Open Note – US dollar kicks off the week higher as hawkish talk increases

Posted on November 22, 2021 at 2:02 pm GMT

US dollar slopes upwards amid upcoming monetary tightening The dollar’s upsurge seems to be continuing this week fueled by the Fed’s Vice Chair Richard Clarida, who signaled an imminent acceleration of the tapering program that could eventually result in earlier rate hikes. In addition, the greenback has also benefited from the rebound in Treasury yields today. However, President Biden is expected to reveal his nomination for the Fed’s chair before Thanksgiving on Thursday, where a possible designation of the more ‘dovish’ Brainard might push [..]

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Posted on November 22, 2021 at 9:57 am GMT

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to [..]

US Open Note – Stocks improve and dollar surges

Posted on November 19, 2021 at 2:17 pm GMT

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100. Expectations of lift-off in rate hikes in 2022, once tapering ends, has aided the reserve currency. The dollar index has shot back above the 96.00 mark, but USDJPY plunged past the 114.00 level and is currently around 113.80. While unlikely, should job projections be around pre-pandemic [..]

Weekly Comment – RBNZ meeting and flash PMI reports take centre stage

Posted on November 19, 2021 at 12:00 pm GMT

The USD reached a 16-month high after a robust US retail sales report, suggesting that high inflation is not yet dampening consumer spending. In the upcoming week, a raft of PMI data and the Reserve Bank of New Zealand interest rate announcement will dominate the markets. The highlights: In New Zealand, the Reserve Bank is widely expected to raise interest rates on Wednesday. The country’s inflation rate has fired up, reinforcing the odds of a 50 basis points interest rate [..]

Week Ahead – European PMIs could spell more bad news for euro

Posted on November 19, 2021 at 10:23 am GMT

The euro has been demolished by fears that new lockdowns will hit economic growth. This has turbocharged the dollar as traders look for shelter, and the upcoming business surveys will be crucial for whether this rotation continues. Meanwhile, markets are split on whether the Reserve Bank of New Zealand will deliver a single or double rate increase, leaving the kiwi vulnerable in case the central bank ‘plays it safe’. Euro gets hammered The single currency has been taken to the [..]

Daily Market Comment – Fresh records for Wall Street; euro gets kicked by Lagarde again

Posted on November 19, 2021 at 10:20 am GMT

Optimism returns to equity markets as US stocks scale fresh all-time highs Rate hike expectations go into overdrive, dollar comes out the winner Dovish Lagarde deals another blow to battered euro Growth fears ease after solid data, buoy stocks After struggling a bit in the last couple of days, global stock markets look set to end the week firmly higher, led by another record close on Wall Street on Thursday. A robust set of economic indicators out of the United [..]

US Open Note – Dollar eases awaiting new market movers; Turkish lira plummets

Posted on November 18, 2021 at 1:57 pm GMT

Initial jobless claims come out; dollar still falling US jobless claims declined by one thousand in the week ending November 13th, a new pandemic low as the labor market continues to slowly recover from the coronavirus hit. The US dollar index is continuing the selling interest that started on Thursday, flirting with 95.60. Dollar/yen is hovering above 114.00 after posting a new high yesterday. Euro/dollar is jumping above the 16-month low of 1.1263, recouping some losses, while pound/dollar is approaching 1.3500. US stock futures are heading for a [..]

Daily Market Comment – Dollar and stocks turn red, euro steadier but lira tumbles

Posted on November 18, 2021 at 10:02 am GMT

Wall Street slips amid faster tapering fears as dollar rally pauses for breath Euro steadier, kiwi surges on rising inflation expectations but Turkish lira crumbles Oil slide deepens after US asks other countries to release strategic reserves Stocks hit by inflation woes Jitters about how further spikes in inflation might begin to hurt corporate earnings as well as spur the Federal Reserve to hasten its tapering timetable weighed on Wall Street on Wednesday. With signs that consumer spending in the [..]

Daily Market Comment – Euro in freefall as outlook dims; pound gains on inflation jump

Posted on November 17, 2021 at 9:59 am GMT

Euro tumbles again as dovish ECB and mounting worries weigh Pound modestly higher after UK inflation tops 4% Dollar reigns supreme as strong US data run continues Euro can’t catch a break The euro is sinking, stretching its week-long slide and breaching the $1.13 level for the first time since July 2020, as investors turn more bearish on the Eurozone outlook. The single currency had already come under heavy selling pressure from last week’s big jump in US inflation, which [..]

Technical Analysis – NZDUSD looks bearish but gets support from Ichimoku cloud

Posted on November 17, 2021 at 8:36 am GMT

NZDUSD has established a strong foothold in the vicinity of a support zone that has formed between the 0.6987 and 0.6969 levels, the former being the 50.0% Fibonacci retracement of the up leg from 0.6510 until the near 43-month peak of 0.7464. The longer-term 100- and 200-day simple moving averages (SMAs) are reflecting a trendless trajectory in the pair, while the recent dip in the 50-day SMA is suggesting that sellers have a slight lead. The Ichimoku lines are not [..]

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