All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD posts new 2-month high

Posted on May 22, 2024 at 7:04 am GMT

NZDUSD starts the day with strong upside momentum after RBNZ decision MACD and RSI tick higher NZDUSD had an aggressive bullish start at the beginning of the day, following the bounce off the 0.6080 support level and creating a spike towards a fresh two-month high of 0.6151 after the RBNZ’s interest rate decision. The market has been developing well above the penetrated descending trend line since May 14 as well as above the strong obstacle of 200-day simple moving average [..]

Market Comment – Fed uncertainty puts stocks on edge, dollar edges up

Posted on May 21, 2024 at 8:42 am GMT

Fed policymakers maintain caution ahead of minutes as risk appetite ebbs Commodities retreat from highs amid hawkish Fed, calm in Middle East Dollar inches higher, ether jumps 19% on spot ETF hopes Fed officials sing from same hymn sheet Expectations of two rate cuts by the Fed are in doubt again as investors pared back some of their bets following a string of hawkish commentary by Fed policymakers in the last 24 hours. Markets had priced in 50 basis points [..]

Weekly Technical Outlook – USDJPY, NZDUSD, GBPUSD

Posted on May 20, 2024 at 1:02 pm GMT

USDJPY’s recent bullish turn looks promising ahead of FOMC minutes NZDUSD takes a breather after meaningful weekly gain; RBNZ decision looms GBPUSD examines critical resistance zone amid busy data week FOMC meeting minutes, S&P Global PMIs –> USDJPY Despite surprising stagnation in April’s retail sales data and a slight easing of CPI inflation last week, the Fed is unlikely to reduce interest rates before September. The odds for two rate cuts have increased with the data, but investors are still doubtful about the second reduction, according [..]

Could RBNZ support kiwi’s recent strength? – Preview

Posted on May 20, 2024 at 7:20 am GMT

RBNZ meets on Wednesday, no rate change expected Quarterly forecasts and press statement will be closely scrutinized Press conference to gain interest if RBNZ turns dovish Kiwi’s recent run against the dollar could be under threat Third RBNZ meeting in 2024 The Reserve Bank of New Zealand will announce its interest rate decision on Wednesday at 02:00 GMT with the press conference following one hour later. The market is overwhelmingly expecting no change in the cash rate as it is [..]

Week Ahead – Flash PMIs, UK & Japan CPIs in focus; RBNZ to hold rates

Posted on May 17, 2024 at 10:20 am GMT

After cool US CPI, attention shifts to UK and Japanese inflation Flash PMIs will be watched too amid signs of a rebound in Europe Fed to stay in the spotlight as plethora of speakers, minutes on tap No fireworks expected from RBNZ policy decision Will CPI report bring BoC nearer to a rate cut? Inflation data will dominate the economic agenda once again in the coming week as CPI numbers are due in Canada, Japan and the United Kingdom. The [..]

Technical Analysis – NZDUSD rallies beyond downtrend line

Posted on May 15, 2024 at 11:35 am GMT

NZDUSD rises above 200-day SMA too RSI and stochastics suggest more bullish moves NZDUSD is flying above the medium-term ascending trend line and the 200-day simple moving average (SMA), indicating a potential upside recovery. According to the technical oscillators, the RSI is heading north and is approaching the 70 level with strong momentum, while the stochastic is entering the overbought territory after the bullish crossover within its %K and %D lines. If the market continues the buying interest, then it may move [..]

Market Comment – Investors cautious as spotlight falls on US inflation

Posted on May 13, 2024 at 8:12 am GMT

Dollar gains slightly on hawkish Fed remarks Investors scale back their Fed rate cut bets China’s CPI rises for the third straight month US stocks stay supported despite rebound in yields Dollar bolstered by Fed, inflation expectations The US dollar traded slightly higher against most of its major peers on Friday, while it started the new week on a cautious note, with traders perhaps reluctant to assume large positions ahead of Wednesday’s CPI inflation numbers. After a less hawkish-than-expected [..]

Technical Analysis – NZDUSD bulls face strong resistance

Posted on May 9, 2024 at 7:35 am GMT

NZDUSD is under pressure following a strong rally from the 2024 lows It has met strong resistance at both the 200-day SMA and a key trendline Momentum indicators are mixed; a bearish divergence is developing After testing the 2024 low at 0.5851 and recording a sizeable rally, NZDUSD is now hovering a tad below the 0.6009-0.6033 area. It is trying to record its third consecutive green candle with the upside currently being limited by both the 200-day simple moving average [..]

Technical Analysis – NZDUSD falls back towards 5-month low

Posted on May 1, 2024 at 2:27 pm GMT

NZDUSD declines sharply after rebound falters Price approaches is lowest level in five months Oscillators are stuck in negative territories NZDUSD has been in an aggressive downtrend since its double rejection at the 0.6217 region in early March. Although the bulls showed some signs of life following the bounce off the five-month bottom of 0.5851, the pair is back on track to extend its series of lower highs and lower lows. Should the retreat extend, the pair may face the 0.5858-0.5851 [..]

Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Posted on April 26, 2024 at 9:34 am GMT

Fed meets on Wednesday as US inflation stays elevated Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the euro Chinese PMIs and New Zealand employment to be watched too Will the Fed put rate cut hopes in more peril? The upcoming week looks sure to be an action-packed one for the US dollar, as besides an FOMC meeting and the April jobs report, there’s a flurry of [..]

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