All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD gains curbed by MAs and Ichimoku cloud

Posted on July 23, 2021 at 1:25 pm GMT

NZDUSD recently found some positive traction around the 0.6900 level, rising to challenge the 50- and 100-period simple moving averages (SMAs) and the Ichimoku cloud. The short-term picture is leaning bearish below an indicative restrictive trend line, pulled from the 0.7310 high, and directional price action has now become suppressed between the 0.6963-0.6988 zone. The SMAs are holding an overall bearish charge but the 50- and 100-period SMAs are currently weighing on price advances as is the cloud. The short-term [..]

Technical Analysis – NZDUSD forms a bearish move near 8-month low

Posted on July 21, 2021 at 7:15 am GMT

NZDUSD plummeted to a fresh eight-month low at 0.6880 on Tuesday, breaking below the sideways channel that had been holding since February 26. The 40-day simple moving average (SMA) crossed the 200-day SMA to the downside, indicating more losses in the near term. The RSI and the MACD are slipping in the negative territories and the stochastic oscillator is entering the oversold zone. More downside moves could take the market towards the 0.6800 psychological number ahead of the 38.2% Fibonacci [..]

Daily Market Comment – Economic growth worries torment stocks and oil

Posted on July 20, 2021 at 8:45 am GMT

Economic slowdown concerns hit stocks, oil gets demolished Commodity currencies struggle too, dollar and yen shine But the panic could fade soon, as stimulus hopes return Pandemic blues hit markets Worries that the rampaging Delta variant will hamstring the global recovery took a bite out of riskier assets on Monday. Markets seem to be coming to the realization that the vaccines won’t be enough to completely obliterate the virus, as the mutations keep getting more resilient. Many governments are also [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

Daily Market Comment – Dollar heads for weekly gains, only kiwi can keep up

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

The US dollar is eyeing a strong close to the week; can retail sales ruin its chances? Other majors flounder, except for kiwi, as strong CPI reinforces RBNZ rate hike bets Stocks struggle despite ultra-dovish Powell amid fears growth momentum has peaked Safe havens thrive as outlook gets cloudier It’s been an action-packed and what should have been a positive week for risk assets, with the earnings season getting off to a good start, the Fed’s Powell maintaining his pledge [..]

US Open Note – Greenback extends pullback before Powell’s testimony

Posted on July 14, 2021 at 1:02 pm GMT

Dollar declines ahead of Powell’s testimony Fed Chair Powell will today testify in front of the House, and tomorrow, he will testify in front of the Senate. Right now, his opinions are well-known and is expected to keep QE as open-ended as possible, but if the US data continues to heat up, the expectation is that something more conclusive will come at either the August Jackson Hole Symposium or the September 21-22 FOMC meeting. Fed Governor Daly stated yesterday that it is time to talk about tapering, and [..]

Technical Analysis – NZDUSD stabilizes below 200-MA; negative pressures endure

Posted on July 14, 2021 at 11:03 am GMT

NZDUSD is ranging around the 0.7000 hurdle ever since the pair manoeuvred below the 200-day simple moving average (SMA). Although the pair is exhibiting a slight negative preference, buyers are currently labouring to return back above the 0.7000 mark. Endorsing negative price tendencies are the converged 50- and 100-day SMAs, which are dipping, and are looking positioned to complete a bearish overlap of the 200-day SMA. The negatively charged Ichimoku lines are also gliding lower, signalling that sellers are still [..]

Daily Market Comment – US CPI spikes again, dollar rallies; kiwi surges too after RBNZ ends QE

Posted on July 14, 2021 at 8:59 am GMT

US inflation jumps again, sending stocks spinning and dollar and yields flying RBNZ shocks by halting bond purchases, kiwi soars as August rate hike eyed Powell testimony in the spotlight as Fed’s patience put to the test Markets settle down after another CPI shock Annual inflation in the United States hit a fresh 13-year high of 5.4% in June, surpassing the top estimates and casting doubt on the Fed’s narrative that this inflationary episode will be transitory. Month-on-month, both the [..]

US Open Note – Stocks dip from record highs and dollar soars after CPI beat

Posted on July 13, 2021 at 1:50 pm GMT

Markets digest key US inflation data Market composure and the subdued volatility in the forex arena quickly faded as today’s US CPI data beat expectations. US major indices dived from their tops as much stronger inflation figures jolted markets, causing jitters in the currency markets as well, shaping into dollar-driven volatility throughout the forex arena. It will be interesting to see the rhetoric in Fed Chairman Jerome Powell’s testimony in the coming days relating to the recovery, price pressures and [..]

Daily Market Comment – Wall Street hits record before earnings kickoff, dollar holds firm

Posted on July 13, 2021 at 9:14 am GMT

Earnings optimism drives US equities to fresh record highs ahead of bank results Risk appetite still shaky in FX markets, dollar and yen resist deeper selloff US inflation data and Powell testimony will be key in directing sentiment Wall Street rallies as reopening boost eyed It’s the start of the second quarter earnings season and optimism is running high that the reopening of the US economy will power corporate earnings to new peaks. The new season will properly kick off [..]

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