All Articles Tagged - NZDUSD

Weekly Comment – USD loses altitude; can NFP report rekindle summer rally?

Posted on July 30, 2021 at 12:59 pm GMT

USD finally caught up with tumbling real yields in the past week, with the Fed’s stubbornly dovish inclination intensifying the selloff mid-week. However, USD bulls shouldn’t lose hope as the June jobs report is coming up next week, along with more central bank meetings. The highlights: Nonfarm payrolls are due on Friday in the US and could jump by 900k in July. But how much of a boost would this be for the battered USD when the Fed is nowhere [..]

Week Ahead – Nonfarm payrolls highlight a huge week

Posted on July 30, 2021 at 11:37 am GMT

Global markets will go into overdrive next week, with two central bank meetings and a landslide of data coming up. The RBA will probably reverse its tapering plans amid extended lockdowns in Australia, whereas the Bank of England might strike a slightly more optimistic tone. Of course, the main event will be the US jobs report, which will determine how quickly the Fed dials back stimulus. Dollar braces for payrolls Fears that the Federal Reserve might announce a slowdown of [..]

Daily Market Comment – Stocks falter again, bruised dollar seeks to end losing streak

Posted on July 30, 2021 at 9:07 am GMT

Market mood sours again as China crackdowns, mixed earnings and Delta fears all weigh Dollar halts slide but struggles to regain positive footing after dovish Fed and soft data Pound sets sights on $1.40 as others lag, gold battles to reclaim $1,830/oz Mixed week for stocks as risks mount Regulatory crackdowns in China, ongoing concerns about the Delta variant and warnings of slower earnings growth ahead all came to a head this week when it was meant to be all [..]

US Open Note – FOMC’s tone knocks the dollar

Posted on July 29, 2021 at 1:57 pm GMT

Markets barely react to US GDP miss as Chairman Powell still on their mind; Eurozone inflation comes in strong The major US indices managed to remain resilient after yesterday’s FOMC comments from Chairman Powell, who signalled that patience is needed as there is still a ways to go before tighter policy. Markets have hardly reacted to the release of US GDP and jobless claims in relation to the expansion of the US economy in the Q2. The US economy grew by 6.5% in the [..]

Daily Market Comment – Powell eases taper angst, dollar slips; China stocks stage rebound

Posted on July 29, 2021 at 9:30 am GMT

Fed cites “progress” but still a ways to go; September taper decision seen less likely Dollar hits 4-week low as easing China panic further adds to downside Asian equities bounce back but Facebook earnings warning could upset Wall Street Powell upbeat but in no rush to curtail QE The Federal Reserve acknowledged it had made “progress” towards its goals as it kept policy unchanged on Wednesday. However, in his press conference, Chair Jerome Powell appeared in no rush to scale [..]

US Open Note – Stocks muted near highs, dollar firms

Posted on July 28, 2021 at 1:16 pm GMT

Markets prepare for FOMC release Yesterday’s consumer confidence for July ticked only marginally higher from June confirming optimism in the US, however, the dollar index weakened slightly, before stabilizing around the 92.50 level ahead of the Federal Open Market Committee meeting. Expectations are that Federal Reserve Chairman Jerome Powell will once again be watchful of his rhetoric towards tapering of asset purchases and the timeline and commencement of such actions. Markets will also be ready to digest any clues from [..]

Technical Analysis – NZDUSD remains below 23.6% Fibonacci and falling line

Posted on July 28, 2021 at 6:47 am GMT

NZDUSD has been in a declining mode after the pullback off the three-and-a-half-year high of 0.7463, sending the price beneath the 23.6% Fibonacci retracement level of the up leg from 0.5470 to 0.7463 at 0.6995. However, the RSI is mirroring the latest rising move and is pointing upwards near the neutral threshold of 50, while the MACD is extending its positive bias above its trigger line. The 0.7000-0.7100 area, where the 20- and 200-day SMAs reside, could challenge any bullish [..]

US Open Note – Stocks drift at record highs and dollar loses some resilience

Posted on July 27, 2021 at 1:35 pm GMT

Markets freeze as Fed meeting underway; US Consumer Confidence ahead It seems continued selling in Chinese tech giants has somewhat hampered risk appetite, which has been further muted as investors hold a cautious stance awaiting the conclusion of the Federal Reserve’s policy meeting tomorrow. The Fed is faced with a slightly more difficult task in this meeting as it will have to expand on the delta variant’s impact over bond yields as opposed to the outlook on rising prices, not [..]

Daily Market Comment – Turmoil in China but broader market mood steady

Posted on July 27, 2021 at 9:10 am GMT

Freefall in Chinese stocks enters third day but rest of Asia takes cues from Wall Street US shares get another earnings lift, hit new records, big day ahead for tech giants But it’s all quiet outside of equities as Fed decision awaited Pound outperforms, flirts with $1.38, as dollar drifts ahead of Fed outcome China shares crash again amid crackdowns Stocks in China and Hong Kong plummeted for a third day on Tuesday as technology, real estate and for-profit education [..]

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

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