All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD may find its feet ahead of 50.0% Fibonacci

Posted on November 5, 2021 at 2:51 pm GMT

NZDUSD has surrendered just about 50.0% of its latest rally from 0.6910 until 0.7217 but the negative drive seems to have somewhat softened. The falling 50-period simple moving average (SMA) appears to be heading for a bearish crossover of the 100-period SMA and this could signal the negative trend is gaining strength. However, the short-term oscillators are indicating a slight pick up in positive momentum. The MACD, in the negative region, is flattening beneath its red trigger line. On the [..]

US Open Note – Dollar and forex arena steady ahead of FOMC decision

Posted on November 3, 2021 at 1:08 pm GMT

ADP non-farm employment, US ISM Services PMI and Fed take centre stage Today’s key highlight is the FOMC decision scheduled for 18:00 GMT, which is expected to reveal that the Fed will begin reducing the asset purchases of its monthly $120bn bond program. That said, the FOMC press conference is likely to be saturated with rhetoric centred around the speed of tapering, inflation and the timeline of rate hikes once tapering fully concludes. Any surprise rhetoric could fuel volatility in [..]

Daily Market Comment – Dollar holds firm but yields slip ahead of Fed decision

Posted on November 3, 2021 at 10:14 am GMT

Bond yields pressured amid risk of Fed following RBA in pushing back on early rate hike Softer start for stocks after Wall Street notches up another record close Aussie and kiwi recoup losses but pound mired in BoE uncertainty Oil skids on inventories build-up, mounting pressure on OPEC Bond markets choppy as Fed awaited for liftoff clues Markets are gearing for the Fed’s long-anticipated taper announcement on Wednesday when the world’s most important central bank will formally call time on [..]

Technical Analysis – NZDUSD tries to exit from tight range of 0.7127-0.7215

Posted on November 3, 2021 at 7:38 am GMT

NZDUSD has been trading in a narrow range between 0.7127 and 0.7215 since October 19. The technical indicators are in confusion as the RSI is pointing marginally up after the bounce off the 50 level, while the MACD is falling below its trigger line. Furthermore, the 200-day simple moving average (SMA) is flattening, which confirms the recent lack of upward momentum in the market. If the bulls gain control, they have a chance to push the market above the 0.7215 [..]

New Zealand jobs data could bolster case for another rate hike – Forex News Preview

Posted on November 2, 2021 at 3:16 pm GMT

Employment indicators for the third quarter are due out of New Zealand on Wednesday (Tuesday, 21:45 GMT). Despite the return of tough lockdowns since August, New Zealand’s labour market is expected to have weathered the latest pandemic storm well. Hence, the data is unlikely to stand in the way of the Reserve Bank of New Zealand hiking its policy rate for the second time this year when it meets later in the month. However, will upbeat numbers be enough for [..]

US Open Note – Stocks near highs, dollar stabilizes, New Zealand employment data due

Posted on November 2, 2021 at 2:44 pm GMT

FOMC and NFP draw focus; RBA sends dovish signals; eurozone data soften US stocks are trading near their all-time highs and the dollar index looks largely unchanged at present as the FOMC meeting is set to get under way today, with the Fed announcing its decision tomorrow. A tapering announcement is already priced in. After yesterday’s stronger-than-expected US ISM manufacturing PMI, including the pricing component, the economy is showing strong expansionary signs and that it may end the year on [..]

Technical Analysis – NZDUSD dives within tight range in the short term

Posted on November 2, 2021 at 2:35 pm GMT

NZDUSD has been in a tight range of 0.7127-0.7215 over the last couple of weeks. However, the technical indicators are suggesting a bearish bias, as the RSI is pointing south in the bullish zone and the MACD oscillator is diving beneath its trigger line. Moreover, the 200-day simple moving average (SMA) is flattening, confirming the recent flat momentum in the price action. If the bulls take the upper hand, they could take the market above the 0.7215 resistance, meeting the 0.7313 barrier, registered on May [..]

Week Ahead – Dollar braces for Fed and NFP but will BoE steal the limelight?

Posted on October 29, 2021 at 12:58 pm GMT

The Fed’s long awaited tapering announcement will headline the coming week, with the October jobs report adding to the excitement. The Reserve Bank of Australia also has scheduled a regular meeting. However, it is the Bank of England that could roil markets the most as it ponders whether to raise rates early to fight burgeoning inflation. Employment data in Canada and New Zealand will be the other highlights on the data front, while OPEC’s monthly get-together is unlikely to yield [..]

US Open Note – Bank of Canada takes center stage; dollar loses momentum

Posted on October 27, 2021 at 1:11 pm GMT

BoC rate decision coming up The Bank of Canada’s interest rate decision is the main event of the day. Policymakers are predicted to leave rates unchanged at 0.25%. Economic growth has fired up, inflation is hot, businesses are feeling optimistic, the housing market is booming, and oil prices continue to climb. Macroeconomic projections that will be updated may provide some hints. The CPI for September came in at 4.4% year on year, more than double the target of 2% and significantly higher than the intended range of 1-3%. Retail sales and employment data [..]

Technical Analysis – NZDUSD gains at risk as sellers push back

Posted on October 27, 2021 at 8:50 am GMT

NZDUSD buyers have re-emerged after the minor price retreat but attempts to limit sellers’ ruling power are looking to have been in vain. As of late, the trendless simple moving averages (SMAs) are proposing a more neutral bearing in the pair. The Ichimoku lines are reflecting the fresh rally and are indicating a pause in positive momentum, while the short-term oscillators are transmitting conflicting messages of directional impetus. The MACD, north of the zero threshold, is keeping above its red [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

NZDUSD

XM Live Chat