All Articles Tagged - NZDUSD

Week Ahead – French and UK elections on the horizon, US jobs report eyed too

Posted on June 28, 2024 at 10:32 am GMT

France and UK go to the polls; will elections bring chaos or order? US payrolls report for June awaited as Fed hawks don’t budge Eurozone CPI, Fed minutes and ECB forum also on investors’ radar Macron’s gamble set to backfire Political risks came back to haunt the euro in June as the resurgence in popularity for far-right parties sparked jitters in financial markets. France has been at the centre of this resurgence where Marine Le Pen’s National Rally party is [..]

Market Comment – Core PCE in focus ahead of French elections

Posted on June 28, 2024 at 8:16 am GMT

Dollar gains after first presidential debate Focus today turns to core PCE inflation Yen slides, intervention risks rise French citizens head to the ballots on Sunday Trump election win bets support dollar The US dollar traded slightly lower against most of its major peers on Thursday, extending gains only against the yen and the franc. That said, the greenback is on the front foot again today, gaining the most ground versus the aussie and the kiwi. What helped the dollar [..]

Technical Analysis – NZDUSD erases GDP-led pickup

Posted on June 20, 2024 at 8:50 am GMT

NZDUSD rises temporarily after slight GDP growth surprise Bulls remain capped below 20-SMA; key support at 0.6085-0.6095 Early Thursday data revealed that the New Zealand economy experienced slightly faster growth than anticipated in Q1. However, NZDUSD rose only a few pips to 0.6164, which were swiftly erased. The bears couldn’t push past the 20-day SMA at 0.6145 for the fourth consecutive day, leading to worries that the pause in the short-term uptrend could lead to a downward reversal. The negative slope in [..]

Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

Posted on June 14, 2024 at 9:21 am GMT

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision. Like their global peers, RBA policymakers had [..]

Technical Analysis – NZDUSD recoups post-NFP slide

Posted on June 12, 2024 at 8:23 am GMT

NZDUSD surges to its highest since March 8 But undergoes a setback after strong NFP report Oscillators ease but remain in positive zones NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, posting a fresh three-month high last week. Although the pair came under severe selling pressure on Friday due to a stronger-than-expected NFP report, it has been trying to erase its losses in the past couple of sessions. Should the bulls attempt to push the [..]

Technical Analysis – NZDUSD erases today’s jump at 3-month peak

Posted on June 6, 2024 at 12:11 pm GMT

NZDUSD holds above steep rising line RSI and MACD show contradicting signals NZDUSD posted a bullish spike earlier today towards a new three-month high around 0.6215. The pair is creating a steep upside tendency in the short-term timeframe after the strong pullback at the five-month low of 0.5850. Technically, the momentum oscillators are showing some mixed signs. The RSI is pointing upwards following the flirt with the 70 level, while the MACD is still strengthening its bullish movement above its [..]

Technical Analysis – NZDUSD extends recovery to fresh highs

Posted on June 5, 2024 at 7:26 am GMT

NZDUSD posts an almost 3-month high on Tuesday But the risk of an impending correction increases Oscillators approach overbought conditions NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April. On Tuesday, the pair stormed to its highest level since March 8 before sustaining minor losses probably due to some profit taking. Should the bulls attempt to push the price higher, immediate resistance could be found at the February-March double top region of 0.6215. A violation of [..]

Technical Analysis – NZDUSD pauses advance at 61.8% Fibonacci

Posted on May 29, 2024 at 7:26 am GMT

NZDUSD stages a solid recovery from its 2024 lows Posts a two-month high and challenges 61.8% Fibo Oscillators point to persistent bullish pressures NZDUSD has been in an aggressive uptrend after recording a 2024 bottom of 0.5851 in mid-April. The positive short-term picture is reinforced by the fact that the pair broke above both its 50- and 200-day simple moving averages (SMAs), while the momentum indicators are also heavily tilted to the upside. Should the bulls attempt to push the price [..]

Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight

Posted on May 24, 2024 at 10:36 am GMT

Dollar traders lock gaze on core PCE index Eurozone CPIs in focus as June cut looms Tokyo CPIs may complicate BoJ’s policy plans Aussie awaits Australian CPIs and Chinese PMIs Will PCE data break the “higher for longer” mantra? The US dollar stabilized this week, recovering a small portion of the losses it posted after the CPI data revealed that US inflation resumed its downtrend in April. What may have allowed the dollar to stop bleeding were comments by [..]

Market Comment – Dollar under pressure as Fed speakers multiply

Posted on May 22, 2024 at 8:18 am GMT

FOMC minutes in the spotlight today Mixed UK CPI probably keeps the door closed to a June move RBNZ surprises with its hawkishness; kiwi benefits Nvidia reports after the US market close Dollar remains on the back foot The quieter data calendar has turned the market’s attention to the plethora of Fed speakers eager to express their opinions ahead of the next blackout period. Analyzing almost 35 public appearances by Fed speakers since May 1 reveals an overwhelming support for [..]

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