All Articles Tagged - NZDUSD

US Open Note – Stocks largely silent, dollar stumbles and yields provide no support

Posted on May 27, 2021 at 1:45 pm GMT

Stocks hint risk absence, dollar loses confidence, GDP and jobless claims draw focus The mood in markets seems to be subdued with major US indices remaining largely unchanged after today’s US GDP and weekly unemployment claims. The dollar seems to be playing defence as the 10-year yield dips to 1.53%. The dollar index is consolidating around the 90.00 mark. The pound has performed well, pivoting around $1.4100 and building strong traction on the dollar’s slight setback. The euro recouped earlier [..]

Daily Market Comment – Fed taper talk gathers momentum; dollar, stocks mixed as yields inch up

Posted on May 27, 2021 at 9:39 am GMT

Fed’s Quarles joins Clarida in signalling taper debate may start soon, but yields rise only slightly Prospect of less stimulus keeps dollar supported near one-week high as stocks struggle Taper signals thwart gold’s bid above $1,900/oz, Oil weighed by possible Iran supply boost No tantrum but markets take note of Fed shift Speculation that the Federal Reserve is edging closer to discussing a reduction in the pace of asset purchases dampened the market mood slightly on Thursday, though the lack [..]

US Open Note – Kiwi shines after RBNZ’s hawkish stance; Dollar remains below 109 yen

Posted on May 26, 2021 at 1:00 pm GMT

RBNZ less dovish message drives kiwi up Kiwi is the best performing currency today versus the US dollar, surpassing the 0.7300 handle and recording a fresh three-month high. The Reserve Bank of New Zealand (RBNZ) projected a rate hike by September 2022, taking the economy closer to an exit from the pandemic situation. The bank signalled a less dovish message in May, while leaving monetary policy steady, as it revised up its forecasts for inflation higher but lowered them for unemployment. In other commodity [..]

Daily Market Comment – Kiwi jumps as RBNZ flags stimulus exit; ECB hints not there yet, euro slips

Posted on May 26, 2021 at 9:18 am GMT

RBNZ signals 2022 rate hike, kiwi surges, but ECB plays down taper talk, knocking euro US yields edge up from lows after Fed’s Clarida suggests taper debate could begin soon “Talking about talking about” tapering doesn’t faze gold as price hits $1,900/oz RBNZ plans its exit strategy, kiwi jumps 1% The Reserve Bank of New Zealand took its first step to exit the pandemic-era stimulus on Wednesday, projecting a rate hike by September 2022 and an end to its large-scale [..]

RBNZ unlikely to announce any policy shifts; focus on any tapering hints – Forex News Preview

Posted on May 25, 2021 at 11:44 am GMT

The Reserve Bank of New Zealand will be the last central bank to announce its policy decision this month on Wednesday at 02:00 GMT, with a press conference following the rate statement. The Bank is expected to let the current monetary settings to do the work towards its objectives for now as borders remain closed to most international visitors and the vaccine rollout is incomplete at the current phase. However, recent data releases have pointed to a stronger economic growth [..]

Daily Market Comment – Stocks climb, yields slide as Fed sticks to transitory narrative

Posted on May 25, 2021 at 9:21 am GMT

Bond yields drop again, growth stocks rally after Fed soothes inflation fears China’s crackdown on commodity speculators also eases inflation worries Dollar slumps to near 5-month low, euro surges above $1.2250 Fed relaxed on inflation risks, markets like it Fed speakers came out in droves on Monday to reinforce the central bank’s position on the flare-up in inflation that’s driven markets into speculation overdrive about the timing of when all the stimulus will be withdrawn. Rising concerns that a lot [..]

Technical Analysis – NZDUSD gains soft positive traction within triangle

Posted on May 25, 2021 at 7:41 am GMT

NZDUSD started the week with a slight positive momentum as the bears were unable to drive the price below the supportive 50-day simple moving average (SMA) at 0.7140 last week. On the upside, the main target remains the 0.7300 key level, a break of which is expected to drive the price above a symmetrical triangle and hence, boost buying confidence towards February’s peak of 0.7463, where a longer-term tough restrictive line is placed as well. Beyond that, the 2017 top [..]

US Open Note – Dollar mixed in the absence of data

Posted on May 24, 2021 at 12:47 pm GMT

Dollar waits for PCE inflation; euro jumps above $1.22 This week is a quiet period in terms of data as the US core PCE on Friday will be in the spotlight. The US dollar posted some marginal gains in the beginning of this session, but lost steam after finding strong resistance near the 109.00 round number versus the Japanese yen. The lack of major releases is not helping the greenback to turn up until there are more strong US data and Treasury yields stop their decline. The US [..]

Weekly Comment – Taper rollercoaster ends badly for USD; can PCE inflation save it?

Posted on May 21, 2021 at 1:40 pm GMT

The Fed spooked markets when the April minutes signalled tapering discussions could begin soon. However, after digesting the information, investors were none the wiser and September remains the most likely date which the Fed will make its taper announcement. USD and Treasury yields have subsequently come crashing back down. Can next week’s PCE inflation data provide any boost? The highlights: Consumer confidence, durable goods orders and personal income & spending numbers are coming up next week, but the spotlight will [..]

Week Ahead – PCE inflation might turn heads as long march to June looms

Posted on May 21, 2021 at 12:20 pm GMT

Markets just got their first acknowledgement by the Fed that it may soon need to begin discussions on tapering. However, further clarification is unlikely to come before the next FOMC meeting in June so as we head into a quiet data week, trading might get even choppier than it has been recently as investors search for more clues on inflation. One such clue will be the latest PCE inflation numbers out of the United States. Otherwise, the only other highlight [..]

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