All Articles Tagged - NZDUSD

RBNZ meeting: Optimistic, with a touch of caution – Forex News Preview

Posted on July 12, 2021 at 3:16 pm GMT

The Reserve Bank of New Zealand will conclude its latest meeting at 02:00 GMT Wednesday. The economy is booming and market pricing suggests the central bank will probably raise interest rates in November this year. Even if the RBNZ tries to calm markets down and the kiwi takes a hit, the overall picture seems promising. Booming New Zealand’s economy is firing on all cylinders. Economic growth easily overcame the RBNZ’s own forecasts in the first quarter, the housing market is [..]

US Open Note – Dollar soars ahead of busy week; commodities ease

Posted on July 12, 2021 at 12:35 pm GMT

Dollar’s strong move drives euro lower Ahead of a busy week, the dollar is moving higher against a basket of currencies. Dollar/yen is holding above the 110.00 handle, developing within the short-term simple moving averages (SMAs), while US futures are mixed before the market opens. Euro/dollar is slipping below the 1.1850 level as ECB President Lagarde warned investors to expect new monetary stimulus guidelines in the next ten days and hinted that more measures to help the euro-area economy may [..]

Daily Market Comment – Risk appetite runs into trouble again as virus cases trend higher

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

Worries that Delta variant is fuelling a new global surge in infections sap sentiment Dollar halts decline, edges up, while stocks back under pressure Bonds to stay in focus as Treasury auctions, CB meetings, Powell testimony coming up Subdued start to week as virus woes return Risk assets were struggling on Monday as signs that virus infections have started to creep higher globally put a dent in the improvement in sentiment that took hold from the middle of last week. [..]

Weekly Comment – Bond rally eases ahead of trio of central bank meetings

Posted on July 9, 2021 at 1:11 pm GMT

If the saying that the bond market is always right is to be believed, traders are having a major rethink about the narrative that major economies will recover quickly from the pandemic, allowing central banks to unwind some of the stimulus. While there doesn’t seem to be a clear explanation as to what caused bond yields to crash this week, there may be more volatility in the coming days as the RBNZ, Bank of Canada and Bank of Japan set [..]

Week Ahead – RBNZ and BoC to stay on taper path but Delta strain may cause angst for BoJ

Posted on July 9, 2021 at 10:53 am GMT

It will be a busy week as the Bank of Canada, Bank of Japan and the Reserve Bank of New Zealand all meet, while inflation will take centre stage on the data front. With increasing concerns that the new Delta Covid variant could scupper reopening plans around the world, Japanese policymakers are the most likely to strike a more cautious tone, but the BoC and RBNZ will probably maintain their optimism for now. After the Federal Reserve signalled that a [..]

Technical Analysis – NZDUSD buyers resurface at 7-month support level

Posted on July 9, 2021 at 9:34 am GMT

NZDUSD is forming some positive traction off a bounce at the 7-month low of 0.6922, that being the most significant trough since the pair adopted a downwards trajectory from the 3-month high of 0.7315. The bearish simple moving averages (SMAs) are endorsing negative tendencies, while the Ichimoku lines are reflecting that sellers still have a slight upper hand. The short-term oscillators are indicating a recent uptick in bullish sentiment and are signalling that buyers may try to counter the negative [..]

US Open Note – Stocks remain upbeat and dollar stabilizes

Posted on July 7, 2021 at 1:52 pm GMT

Softened market mood prepares for US job openings and Fed minutes The Nasdaq 100 remains comfortably at its highs, while the S&P 500 and the Dow Jones Industrial Index have largely recouped the minor setback related to yesterday’s ISM PMI data. Markets have calmed and the dollar index is consolidating around 92.50, following its latest gains. The minor cooling of the US economy along with 10-year yields dropping to 1.30% have barely hurt the dollar. That said, four straight months [..]

Technical Analysis – NZDUSD lies above 0.70 in horizontal trajectory

Posted on July 7, 2021 at 8:18 am GMT

NZDUSD is flirting with the 0.7000 psychological number, after it successfully surpassed the 200-day simple moving average (SMA) yesterday. The Relative Strength Index (RSI) is pointing upwards near the 50 level, while the MACD is jumping above its trigger line in the negative region. The 40-day SMA could challenge any bullish attempts before touching the 0.7313 resistance, which is the upper surface of a four-month trading range. Hence, any breakout at this point may gather extra interest, with the price [..]

Can the Delta variant wreck hopes of an end to lockdowns? – Special Report

Posted on July 6, 2021 at 2:32 pm GMT

The highly contagious Delta variant of Covid-19 has fast become the dominant strain around the world, spreading beyond Asia. Countries with low vaccination rates like Australia have had no choice but to reimpose draconian lockdowns, but in other places such as America and Britain where most adults have had at least one vaccine dose, there are no plans yet to pause the full reopening of their economies. Is it sensible to assume so early on that vaccines have broken the [..]

US Open Note – Stocks tread water around highs and dollar ticks up

Posted on July 6, 2021 at 2:31 pm GMT

Markets process June ISM services PMI Markets seem somewhat muted around their highs after Friday’s mixed payrolls report but the greenback’s demeanour has strengthened slightly. Although global recoveries are on the right path, markets continue to try and clearly decipher the plans or approaching plans of central banks gradually ending accommodative policy. The dollar index has improved to 92.40, while the euro and sterling faded from their intraday highs but held above the $1.1800 and $1.3800 borders. Spikes in infections [..]

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