All Articles Tagged - NZDUSD

US Open Note – Dollar continues march higher after the US retail sales release

Posted on November 16, 2021 at 2:04 pm GMT

US retail sales ticks up US retail sales are the highlight of today. The figure climbed by 1.7% m/m for October as compared to 0.8% in the previous month, driving the greenback higher. Despite supply issues and delivery delays, there is a strong belief that customers will begin their holiday shopping earlier this year. Vice President Biden has made his selection for the position of Chairman of the Federal Reserve. Powell is the most qualified candidate, even though Brainard has [..]

Technical Analysis – NZDUSD trades below its 200-period SMA as bearish forces linger

Posted on November 16, 2021 at 9:59 am GMT

NZDUSD continues to be dominated by negative momentum as the pair is currently trading below its 200-period simple moving average (SMA). Moreover, the red Tenkan-sen is found below the blue Kijun-sen line and the Ichimoku cloud is red, reinforcing the bearish outlook. The negative bias is mostly supported by the short-term momentum indicators, as the RSI is hovering below its 50 neutral mark. However, the MACD is found below zero but above its red signal line, which indicates that the [..]

US Open Note – Greenback slips as Fed tapering starts

Posted on November 15, 2021 at 2:04 pm GMT

Fed tapering begins According to the FOMC meeting of November 2-3, tapering will begin this week as planned. The New York Fed announced its modified bond-purchase schedule last week, confirming that tapering will start this month. Until June, the Federal Reserve intends to keep reducing its purchases by $15 billion each month. There is a possibility of a change in tapering speed, but the Fed has indicated that it will only do so if it is necessary. Futures for the Fed Funds rate are still pricing in a Q2 liftoff of roughly two-thirds, while [..]

Daily Market Comment – Cautious tone ahead of risk events, dollar softer

Posted on November 15, 2021 at 10:03 am GMT

Stocks are mixed, dollar eases ahead of Biden-Xi meeting, US data, Fed speakers Modest lift from upbeat Chinese data as worries about property sector linger Yield differentials in driving seat in FX market, gold holds near highs Subdued start to week amid caution It was a relatively subdued start to the week across financial markets on Monday as stocks, bonds and the dollar were still reeling from last week’s US CPI shock. The panic and fallout from the jump in [..]

US Open Note – Dollar turns down after printing new highs

Posted on November 12, 2021 at 1:46 pm GMT

Eyes on JOLTS job openings ahead of inflation expectations There is a scarcity of fresh information today. The JOLTS job openings for September and the preliminary November consumer mood index from the University of Michigan will be released later in the day. The results of the JOLTS survey should demonstrate that supply of workets continues to be the most pressing issue in the labor market. These are generally second-tier economic data from the United States, but they may garner more attention this time around because [..]

Week Ahead – More CPI data incoming; is the inflation storm about to get bigger?

Posted on November 12, 2021 at 12:58 pm GMT

As inflation in the United States hits a three-decade high, there could be further nasty surprises on the way as more countries publish their monthly CPI prints. The focus will also be on the economic recovery, as there is a host of other data coming up, including from the United Kingdom, Japan, China and Canada. Will global bonds join the selloff in US Treasuries if inflation surges elsewhere too, or will the dollar continue to ascend? US retail sales [..]

US Open Note – Risk off mood ahead of key US data, dollar ticks higher with yields

Posted on November 10, 2021 at 2:08 pm GMT

US Inflation report and unemployment claims mixed Investors are digesting today’s US CPI data and unemployment claims, which came out at 13:30 GMT. The figures could force the Fed to consider delivering tighter monetary policy measures, especially as inflation came in stronger. Supply shortages continue to linger and are feeding price pressures, while the rising US two-year yield is aiding the greenback. The dollar index has steered above the 94.00 mark, while the euro has dipped to $1.1535, and the [..]

Technical Analysis – NZDUSD crossed below the red Ichimoku cloud; negative bias arises

Posted on November 10, 2021 at 10:09 am GMT

NZDUSD has lost its positive momentum after failing to break above its 0.7176 level in the past couple of sessions. The pair has currently crossed below the red Ichimoku cloud and its 50-day simple moving average (SMA), promoting a negative short-term outlook. The negative bias and the recent price depreciation of the pair are also supported by the short-term momentum indicators, as the RSI is hovering below its 50 neutral mark, while the MACD is found below zero and its [..]

US Open Note – Dollar still holds in negative territory after US PPI

Posted on November 9, 2021 at 2:16 pm GMT

Calm day with US core PPI Across the board, this week’s data has been strong but not so important. The market has instead been focused on central banks, with both the US Federal Reserve and the Bank of England meeting last week. The FOMC voted to taper immediately in November, with a $15bn reduction per month in purchases, which implies asset purchases would end completely by June 2022. Markets are continuing to price in a Fed lift-off that occurs sooner than the Fed desires. Even though many Federal [..]

Technical Analysis – NZDUSD bulls look to return; next target at 0.7215

Posted on November 9, 2021 at 9:15 am GMT

NZDUSD has been flowing above the 200-day simple moving averages (SMA) the past couple of sessions, avoiding a close below the 0.7000 round level, while the bounce on the broken descending trendline can also be taken as another encouraging sign that buyers are looking to control the market. In technical indicators, the 20-day SMA has pierced above the 50- and 200-day SMAs, raising some optimism that the pair could create more higher highs and higher lows. As regards the price momentum, [..]

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