All Articles Tagged - NZDUSD

US Open Note – Calm day ahead of busy week; oil around $85

Posted on October 25, 2021 at 1:00 pm GMT

US futures near new highs; Facebook releases its earnings Today’s economic calendar is light, but the rest of the week promises to be very interesting, with central bank meetings in the Eurozone, Canada, and Japan, as well as earnings reports from the technology industry’s heavy hitters. Facebook will launch the earnings campaign immediately following Wall Street’s closing bell. It is somewhat bizarre to watch US futures trading marginally lower from their all-time highs, even as inflation predictions continue to rise. If the tech sector earnings approve, the [..]

Technical Analysis – NZDUSD stalls near 4-month high; bullish bias

Posted on October 22, 2021 at 11:48 am GMT

NZDUSD has advanced to a new four-month high of 0.7217 on Thursday, breaking the downward sloping channel to the upside. In trend indicators, the 20- and 40-day simple moving averages (SMAs) posted a bullish crossover, suggesting more gains and the technical indicators are gaining ground. The RSI is pointing up near the 70 level, while the MACD is extending its momentum above its trigger and zero lines. If the market corrects higher, the bullish action may pause initially near 0.7240 [..]

Daily Market Comment – Muted jubilation as Evergrande makes debt payment

Posted on October 22, 2021 at 9:14 am GMT

Relief as Evergrande averts default but China’s property woes not over Stocks mostly up but gains are modest as tech weighs Dollar hovers in recent range, eyes Powell speech for direction Commodity dollars bounce back, flash PMIs support euro and pound Evergrande interest payment calms nerves, slightly Embattled property giant, Evergrande, has reportedly paid its overdue interest on dollar-denominated bonds amounting to $83.5 million following weeks of speculation about its finances. Markets were taken by surprise from the news as [..]

US Open Note – Growth concerns bring risk-off into play; dollar’s slide halts

Posted on October 21, 2021 at 1:40 pm GMT

Stocks falter as risk-off returns Better-than-expected corporate earnings have been a boon to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the energy crisis. Nevertheless, below the surface global economic warnings are still flashing red. The pandemic’s nasty supply shocks will probably keep fueling global inflation pressures for longer and businesses such as Unilever, will not hesitate to transfer costs onto consumers [..]

Daily Market Comment – Evergrande jitters return, yen climbs, dollar steady

Posted on October 21, 2021 at 9:10 am GMT

Evergrande shares plunge after sale of unit falls through, mood sours in equities Treasury yields ease back as Fed dampens early rate hike talk Yen bounces back, dollar edges up but commodity currencies take a tumble Stocks under pressure as Evergrande default risks grow Equity markets were feeling the strain of a fresh panic about China’s heavily indebted property sector after troubled real estate giant – Evergrande – told investors that the sale of its property services unit for $2.6 [..]

US Open Note – Stocks oscillate near record highs; commodity currencies hold firm

Posted on October 20, 2021 at 1:50 pm GMT

Stocks consolidate gains as earnings surprise Stock markets have been relatively flat marginally below their summer record highs during early US trading hours on Thursday, with the pan-European STOXX 600 consolidating last week’s impressive rebound and US stock indices switching between gains and losses. While investors were almost convinced that higher input costs, labor shortages and lack of raw materials would raise serious concerns among companies, the earnings season has surprisingly been a tailwind to equity markets so far, showing [..]

Daily Market Comment – Dollar steadies as yields climb, Wall Street edges closer to record highs

Posted on October 20, 2021 at 8:46 am GMT

Dollar off lows as 10-year yield hits 5-month high but Fed rate hike still seen lagging others Yields likely to stay in spotlight as raft of Fed speakers coming up Strong earnings drive S&P 500 to fifth day of gains, but futures slip Rate repricing underway Expectations that high inflation is here to stay continued to firm in the bond markets, sending global bond yields to fresh highs in the last 24 hours. With energy and metal prices still soaring, [..]

Technical Analysis – NZDUSD snaps descending channel; bias cautiously bullish

Posted on October 20, 2021 at 7:19 am GMT

NZDUSD inched to a four-month high of 0.7178 on Thursday following the advance above the eighth-month-old descending channel and the 200-day simple moving average (SMA) on Wednesday. Although the bullish breakout still requires confirmation and a downside correction cannot be excluded, as the RSI and the Stochastics move in overbought waters, the growing momentum in the MACD suggests buying forces could dominate in the short term. Should the bulls successfully clear September’s peak of 0.7169, the rally could initially stabilize around the 0.7245 barrier [..]

US Open Note – Stocks buoyant, dollar slips and gold improves

Posted on October 19, 2021 at 1:55 pm GMT

Sentiment upbeat as US yields retreat; FOMC speakers to draw focus The recent climb in US stocks appears supported by gains in the technology and communication service sectors. Moreover, expectations of strong earnings and the stabilization in longer-term yields, after a drop, are not aiding the greenback. Despite the pickup in sentiment, inflationary concerns and the energy crisis seem to be risks that may drag on for a while longer. The dollar index surrendered ground from the 94.00 mark down [..]

Daily Market Comment – Dollar slumps, stocks advance amid earnings optimism

Posted on October 19, 2021 at 9:08 am GMT

US tech rebound leads global stocks higher as earnings season about to heat up Dollar plunges as mood improves and Fed seen falling behind in the tightening race Riskier currencies power ahead as US yields fall back Focus on earnings as jitters subside Worries about soaring inflation, supply-chain chaos and slowing growth in China were put on the back burner on Tuesday as investors turned their attention on the Q3 earnings season that kicked off last week with a bang. [..]

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