All Articles Tagged - NZDUSD

Week Ahead – US jobs report, RBNZ rate hike may further roil markets amid turbulence

Posted on September 30, 2021 at 2:17 pm GMT

Just as central banks thought it was safe to begin closing the taps on stimulus, warning signals are flashing red across the markets as fears grow of a sharp slowdown in growth in the major economies. However, policymakers are expected to stay on the tightening path for now, with the September jobs report likely giving the Fed the green light to taper in November, while the Reserve Bank of New Zealand will probably press on with a telegraphed rate hike. [..]

RBNZ to raise rates, the sequel – Forex News Preview

Posted on September 30, 2021 at 1:49 pm GMT

After a surprise lockdown stopped policymakers from raising interest rates back in August, the Reserve Bank of New Zealand (RBNZ) is widely expected to make that move on Wednesday at 01:00 GMT. However, the risks surrounding the kiwi seem tilted to the downside as markets have almost fully priced in three rate hikes over the next three meetings, leaving scope for disappointment. In the bigger picture, China risks have also entered the equation. Delayed, not cancelled When the RBNZ hit [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

US Open Note – Stocks struggle as upbeat dollar endures, gold recoups some losses

Posted on September 29, 2021 at 1:50 pm GMT

Market tone sparks concerns around high inflation and lagging growth Although the global energy crisis is putting pressure on economies resulting from China’s coal shortages, as well as rising natural gas prices and disruptions in oil production in the US, investors’ focus will shift towards the virtual panel discussion at the ECB Forum on Central Banking scheduled at 15:45 GMT, where central bank governors will participate. Yesterday, Chair Powell and Secretary Yellen touched on the fact that failing to raise [..]

Technical Analysis – NZDUSD starts new bearish cycle within channel

Posted on September 29, 2021 at 11:26 am GMT

NZDUSD embarked itself on a new bearish cycle after the bulls got defeated once again near the tough resistance trendline drawn from February’s four-year high of 0.7463. The 0.7000 level could not catch the fall this week, with the price currently seeking shelter near the 0.6930 handle, where bearish actions halted several times over the past few months. While a rebound at this point cannot be excluded, the momentum indicators are currently flagging that the sell-off has more room to run. With the MACD decelerating below [..]

US Open Note – Market sentiment dulls; dollar aided by climb in yields

Posted on September 28, 2021 at 1:40 pm GMT

Stocks pull back and dollar firms, ready to digest central bank speeches The US major indices are retreating as a result of a dampened market mood on the back of global energy uncertainties and rising yields, which have simultaneously underpinned the king dollar. Currently the 10-year yield is at 1.53% and may be adding to the haven appeal of the reserve currency, reinforcing its latest resilience. The dollar index floated up until 93.65. The greenback has strengthened across a basket [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Technical Analysis – NZDUSD positive impetus fades as 100-MA deters gains

Posted on September 24, 2021 at 1:03 pm GMT

NZDUSD has dipped back down to the 200-period simple moving average (SMA) after the pair’s recent bounce around the 0.6986 level was capped by the 100-period SMA. The horizontal 100- and 200-period SMAs are promoting an overall trendless bias, while the diving 50-period SMA, is suggesting a downward tendency in the pair. At the moment the short-term oscillators are skewed more to the downside and are reflecting the pickup in bearish momentum. The MACD is holding marginally above its red [..]

Daily Market Comment – Bond markets come alive as tighter policy looms, stock rally eases

Posted on September 24, 2021 at 9:27 am GMT

Sovereign bond yields jump on optimism and rising prospect of policy tightening Equities rebound fizzles out as lingering doubts about Evergrande cuts party short Dollar gives up all post-Fed gains but limited bounce back for riskier currencies Bond markets finally wake up to the sound of central banks US Treasury yields led the surge in global government bond yields amid a delayed response to the flagging of an imminent taper announcement by the Federal Reserve on Wednesday. Bond traders finally [..]

US Open Note – BoE cheers pound bulls; stocks maintain post-Fed advances

Posted on September 23, 2021 at 1:42 pm GMT

BoE sends some bullish shockwaves The Bank of England (BoE) left its policy settings unchanged as expected with a vote of 9-0 to keep interest rates steady at 0.1% on Thursday but provided some hawkish tilts for the pound to distance itself from the key 1.3600 support level and drift above 1.3700 against the US dollar. The BoE committee judged that despite some uncertainties that remain to be tacked, price developments over the forecast period have strengthened the case for [..]

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