All Articles Tagged - NZDUSD

US Open Note – US CPI surprise driving dollar higher; Lagarde comments hurt euro

Posted on June 10, 2021 at 1:10 pm GMT

US CPI spike higher than expected Consumer prices in the United States were closely watched today for any clues about a tapering timeline. The headline CPI rose by 5% year-on-year for May, driving the dollar higher. This figure is the highest number since August 2008 amid low base effects from last year. The annual core CPI accelerated to 3.8% from 3.0% while the monthly rate ticked slightly down to 0.7% versus 0.9% previously. The Fed is anticipated to take baby steps towards slowing its bond purchases and the [..]

Daily Market Comment – All quiet before ECB and US CPI; dollar resists slump in yields

Posted on June 10, 2021 at 9:14 am GMT

Inertia sets in as ECB decision, US inflation seen key in determining the summer tone Treasury yields tumble again but dollar steady, stocks sluggish Euro and pound on the backfoot as EU-UK tensions simmer ECB and US CPI ahead: calm before the storm? Trading got off to another lacklustre start on Thursday, with major currencies and equities subdued and the volatility confined to the bond market. However, the unusual lull is unlikely to last much longer as the European Central [..]

US Open Note – Dollar struggles ahead of key data; BoC awaited

Posted on June 9, 2021 at 12:56 pm GMT

Dollar waiting for tomorrow’s US CPI data The US dollar is weaker somewhat today, and Treasury yields were lower as traders wait for the US inflation announcement on Thursday as it may affect the timeline for Federal Reserve discussions on tapering bond purchases and may be a key catalyst for the bond market. Dollar/yen is continuing its selling interest, hovering near 109.37, while the US dollar index is experiencing some losses as well. S&P 500 and Nasdaq futures are signaling a positive open; however, Dow Jones futures are suggesting a negative open. Euro and pound take some positive steps The [..]

US Open Note – Risky currencies cheer on dollar weakness as stocks ease

Posted on June 7, 2021 at 12:54 pm GMT

Dollar fails to move up again after disappointing NFP The eagerly awaited NFP release for May on Friday was better than April’s figure, however, it disappointed investors. The unemployment rate fell to 5.8% but the greenback finished the day sharply lower. Today, dollar/yen is continuing the selling interest with weaker momentum, trading near 109.40, while the US dollar index is recovering some losses. US stock futures were slightly on the downside after a positive day on Friday. In Washington, the two main parties are sticking to their different approaches on [..]

Daily Market Comment – Dollar left reeling after soft NFP; stocks mixed as US CPI around the corner

Posted on June 7, 2021 at 9:03 am GMT

US jobs report disappoints again, sending gains in US dollar and yields into reverse Wall Street buoyed by goldilocks recovery but cautious start to week as US CPI eyed Aussie wipes out losses but euro treads water ahead of ECB meeting NFP miss allays early Fed taper fears It was another disappointing Jobs Friday as predictions for May nonfarm payrolls were again off the mark. Payrolls rose by 559k against estimates of 650k – not as huge a miss as [..]

Technical Analysis – NZDUSD recoups some of the strong losses

Posted on June 4, 2021 at 9:50 am GMT

NZDUSD plummeted in a new one-month low around 0.7124 in the preceding sessions, however, it is currently trying to recoup some of the losses. The RSI is gaining some ground in the oversold territory, while the stochastic is getting ready to create a bullish crossover within the %K and %D lines. If the market refuses to fall further, immediate resistance could come from 0.7150. An aggressive jump above this hurdle could open the way towards the 200-period SMA at 0.7215 [..]

Technical Analysis – NZDUSD still bullish, edges toward tentative uptrend line

Posted on June 2, 2021 at 8:22 am GMT

NZDUSD has found a toehold on the mid-Bollinger band, a tad beneath the 0.7239 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 0.6510 until 0.7464. The minor pickup in the slope of the 50-day simple moving average (SMA) and a possible bullish crossover of the flattening 100-day SMA, slightly overhead at 0.7179, could aid short-term improvements in the price. The 200-day SMA continues to act as a shield for the broader bullish picture. The [..]

US Open Note – Dollar continue to rise after core PCE price data

Posted on May 28, 2021 at 1:07 pm GMT

Core PCE data boost dollar The spotlight of the day is the release of the US core PCE price data. The figure for April rose to 3.1% y/y from 2.9% that was the expectation and 1.8% in March. This is the highest since August 1992 and above the Fed’s 2% target for the first time since 2018. PCE is the Fed’s preferred measure of inflation so traders watch it closely. Personal income increased to -13.1% from -20.9% previously, while personal [..]

Technical Analysis – NZDUSD falters around 3-month highs

Posted on May 28, 2021 at 1:05 pm GMT

NZDUSD is extending its pullback below the merged 50- and 100-period simple moving averages (SMAs) around 0.7228 but this move has yet to negate the broader market sentiment, which seems still slightly tilted to the upside. The gradual inclines in the SMAs are endorsing the neutral-to-bullish price picture. The red Tenkan-sen line is promoting negative forces, while the flattening blue Kijun-sen line has yet to concur with the pair’s growing negative bearing. The short-term oscillators are mirroring the recent retreat [..]

Daily Market Comment – Yields rise ahead of US inflation data; pound jumps on rate hike hint

Posted on May 28, 2021 at 9:13 am GMT

Treasury yields advance on Biden’s $6 trillion budget plan; PCE inflation eyed next But modest gains for dollar as pound spikes after BoE’s Vlieghe hints at 2022 rate hike Stocks head for weekly gains, buoyed by US data and budget proposal, but tech lags Bond yields perk up as big spending back in focus US and global yields look set to end the week on a much firmer note than they started as the prospect of a massive federal budget [..]

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