All Articles Tagged - NZDUSD

Daily Market Comment – Dollar finds footing as Jackson Hole awaited, stocks fly again

Posted on August 25, 2021 at 9:14 am GMT

Markets turn to Jackson Hole for direction amid uneasy optimism Dollar edges up after three-day slide, while Wall Street climbs to fresh records China cash injection, House infrastructure vote lift sentiment, but Delta still a worry Calm sets in before possible Fed storm After a volatile week, markets were in much steadier waters on Wednesday, with the US dollar halting its losing streak and equities holding onto their gains. Optimism that the global economic recovery from the pandemic will only [..]

Technical Analysis – NZDUSD still rises after the rebound off 0.6800

Posted on August 25, 2021 at 7:21 am GMT

NZDUSD is still moving higher after the rebound off the 0.6800 support level, reaching the 20- and 40-day simple moving averages (SMAs). Technically, the RSI indicator is flattening near the neutral threshold of 50, while the MACD is rising in the bearish territory, approaching the trigger line. If the price jumps above the SMAs, the next immediate resistance could come from the 0.7100 psychological level, which holds near the 200-day SMA. Even higher, the market could meet the medium-term descending [..]

Daily Market Comment – Stocks extend rebound, dollar tanks as Fed taper and Delta worries ease

Posted on August 24, 2021 at 9:12 am GMT

Risk sentiment continues to improve as Fed seen delaying taper signal Delta fears also subside as FDA’s full approval of Pfizer vaccine adds to optimism Wall Street flirts with record highs, dollar flounders as commodity currencies fight back Fed taper expectations pared back amid virus risks Growing signs that the Delta wave is proving to be a bigger headwind for the US economy than initially anticipated have cooled expectations that the Federal Reserve will commit to a tapering timeframe at [..]

US Open Note – Risk currencies become the best performers as delta fears persist

Posted on August 23, 2021 at 1:16 pm GMT

Jackson Hole in focus, as delta strain challenges policy decisions Although not a game changer yet, the RBNZ policy announcement showed last week that the spread of the delta virus strain could bring some rescheduling in monetary policy plans, and therefore some exciting volatility in FX markets. Policymakers postponed a widely expected 25 bps rate hike for later in the year as a handful of new cases was enough to prompt a snap lockdown given the low vaccination rates in [..]

Daily Market Comment – Equities perk up but Delta casts shadow over Jackson Hole

Posted on August 23, 2021 at 9:16 am GMT

Trading gets off to a somewhat more positive start as stocks and commodities rise, dollar slips But Delta surge forces Jackson Hole to go virtual again, taper clues in doubt Flash PMIs in focus amid recovery fears as Delta variant rages on Panic subsides but could be the Fed’s turn to get jittery After a tumultuous week, the market mood brightened somewhat on Monday after stocks on Wall Street extended their rebound on Friday. Bargain hunting appears to be reviving [..]

Week Ahead – Fed taper: will they or won’t they? Splits loom over Jackson Hole

Posted on August 20, 2021 at 1:05 pm GMT

The upcoming week will kick off with a bang as the flash PMI readings for August will flood the markets on Monday. However, it might go all quiet after that before Fed officials gather at Jackson Hole later in the week for this year’s economic symposium, which is set to be dominated by discussions on how and when to unwind the Fed’s emergency stimulus. Will policymakers finally lay out their tapering plans, potentially lifting the US dollar to fresh yearly [..]

US Open Note – FX markets head south; stocks continue to drop

Posted on August 20, 2021 at 12:57 pm GMT

Dollar index rises slightly Watered-down expectations heading into Jackson Hole next week reveal more about the economy than the Fed’s plans to taper. If the Fed does not announce a taper soon, the fear is that they will not have the opportunity to do so if the US virus situation does not get better in the coming months. The US dollar index is surging to a new nine-month high of 93.67 today, posting the fifth consecutive green day. The greenback is flattening against the Japanese [..]

Technical Analysis – NZDUSD licks wounds at 9-month low; more losses may come

Posted on August 20, 2021 at 12:27 pm GMT

NZDUSD slid to a more than 9-month low of 0.6804 on Friday, extending its weekly losses. But the selloff may not be over as the momentum indicators remain deep in bearish territory. The Stochastics have tumbled within the oversold zone but have yet to show signs of reversing higher. The RSI, meanwhile, has flatlined just above the 30 level. The only positive signal is coming from the price having violated the lower Bollinger band, which indicates that a rebound may [..]

US Open Note – Riskier currencies plummet amid dollar strength

Posted on August 19, 2021 at 12:57 pm GMT

FOMC minutes drive dollar up Following the minutes from the latest FOMC meeting, the dollar index rose to 93.4 on Thursday, the highest closing level since November 2020. Numerous market participants now believe that the Fed will disclose a tapering timeline at the Jackson Hole Symposium next week. There will be less cash poured into the system if asset purchases are reduced. US stocks slid and are headed for a negative open today, while dollar/yen is heading south around 109.60. [..]

Daily Market Comment – Wall Street slips, dollar shines, RBNZ holds fire

Posted on August 18, 2021 at 8:33 am GMT

Stock markets edge lower after US retail sales disappoint Risk aversion reawakens the dollar ahead of Fed minutes today RBNZ says rate hikes ‘delayed not derailed’, kiwi goes wild Stocks bleed, but not much It was a lively session across global markets. Wall Street came under pressure on Tuesday after US retail sales fell short of expectations, amplifying concerns that consumer spending may be rolling over and reinforcing the narrative that economic growth has already peaked. Of course, the retreat [..]

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