All Articles Tagged - NZDUSD

Daily Market Comment – Dollar licks wounds after rollercoaster week, tech stocks rebound

Posted on May 21, 2021 at 9:30 am GMT

Dollar skids towards 3-month lows as inflation and taper fears ease further Wall Street halts losing streak as lower yields lift tech stocks Commodities extend losses but gold holds near highs amid rotation out of crypto Dollar bruised by Fed taper false alarm Inflation and taper jitters subsided further on Friday following the mid-week scare when the Fed minutes revealed some worries about persisting high inflation and eagerness among some participants to begin the taper debate. However, markets have concluded [..]

Technical Analysis – NZDUSD eases below 0.72 avoiding to show a clear direction

Posted on May 21, 2021 at 6:13 am GMT

NZDUSD found some resistance around the 20- and 40-period simple moving averages (SMAs) earlier today and returned to a bearish move thereafter. The price is currently travelling beneath the 0.7200 handle, where any decisive close higher may prove valuable to the market. The red Tenkan-sen however, remains below the blue Kijun-sen and the RSI is currently flirting with the 50 level, pointing to softer short-term trading. The stochastic oscillator is heading south in the 4-hour chart. A pull back may meet immediate support around the [..]

Daily Market Comment – Fed hints at taper discussion soon but dollar struggles to catch a bid

Posted on May 20, 2021 at 9:11 am GMT

Fed minutes drop first hint of starting to ‘think about thinking about’ tapering US dollar and yields jump, but not much, before easing slightly Wall Street dips but pares losses, equity markets mixed today Not so relaxed about inflation after all? The minutes of the Federal Reserve’s April policy meeting dropped the first taper bombshell on Wednesday as some policymakers raised the prospect of beginning discussions on reducing bond purchases soon. According to the minutes, some participants thought “it might [..]

Technical Analysis – NZDUSD contests bullish defences but improving bias endures

Posted on May 19, 2021 at 1:59 pm GMT

NZDUSD is currently weighing on the 100-day simple moving average (SMA) around 0.7182, adjacent to a minor supportive trend line pulled from the 0.6942 low. The 200-day SMA is protecting the broader positive structure, while the 50- and 100-day SMAs are promoting a short-term neutral-to-bullish demeanour. The short-term oscillators are indicating that positive sentiment is currently struggling. The MACD is weakening below its flattening red trigger line, which is not too far above the zero threshold. The fragile RSI is [..]

Daily Market Comment – Inflation fears creep in again ahead of Fed minutes

Posted on May 19, 2021 at 9:12 am GMT

Inflation worries spark US tech selloff, prompting caution ahead of Fed minutes US futures slip further but dollar slide eases on slight risk averse mood Loonie pulls back from highs on lower oil prices, eyes CPI data Inflation concerns won’t go away Market jitters about higher inflation resurfaced late on Tuesday, weighing on equities, as investors reassessed the outlook for earnings growth against a backdrop of higher costs and supply constraints. Big tech stocks with sky-high valuations were the biggest [..]

US Open Note – Stocks pick up, dollar hurt and gold retains bullish tone

Posted on May 18, 2021 at 1:15 pm GMT

Stocks recoup yesterday’s lost ground as dollar loses dominance US major indices are largely holding around yesterday’s highs after having reclaimed surrendered ground, emanating a slight pickup in risk appetite. That said the damage in the greenback is being felt across the board. The dollar index plunged below the 90.0 mark and has managed to stabilize around 89.70. The Fed’s dovish stance seems to be weighing on the greenback and sentiment appears to be subdued. Steady yields are not discouraging [..]

US Open Note – Virus spikes favor safe havens; US equity futures point lower

Posted on May 17, 2021 at 1:12 pm GMT

Stocks tumble as Covid outlook gets cloudy again Markets traded with mixed feelings during the European session as Covid success countries such as Taiwan, Singapore, and Hong Kong reported the highest number of daily infections since the start of the pandemic, forcing the resumption of fresh social distancing measures and the closure of schools, cafes and bars. On the other side of the planet, European economies were moving forward with their reopening plans, with the UK lifting its international travel [..]

Daily Market Comment – Asian virus flareups dent equities but dollar struggles as yields slip

Posted on May 17, 2021 at 9:14 am GMT

Fresh virus spike in Asia weighs on stocks and bond yields, lifting gold But some support for risk assets as taper fears ease after soft US retail sales Dollar steady as investors await Fed speakers and April minutes for new clues Asian virus escalation saps sentiment Market sentiment got off on the wrong foot at the start of the new trading week after Taiwan and Singapore announced tighter restrictions to tackle a worrying spike in Covid cases in recent days. [..]

Technical Analysis – NZDUSD gains impetus within bullish channel

Posted on May 14, 2021 at 1:26 pm GMT

NZDUSD is in the process of recapturing the ground above the Ichimoku cloud after recently bouncing off the 200-period simple moving average (SMA) around 0.7134. The flattening demeanour of the 50- and 100-period SMAs is reflecting the recent dwindling in sentiment, while the advancing 200-period SMA is endorsing the bullish channel. The upturn in the red Tenkan-sen line is suggesting the positive impetus is growing. The short-term oscillators are also favouring the upside, signalling strengthening momentum. The MACD, in the [..]

US Open Note – US retail sales disappoint with minor impact on greenback

Posted on May 14, 2021 at 12:57 pm GMT

US retail sales dive below expectations The highlight of the day is the US retail sales, which were flat month-on-month in April, worse than the 1% increase that was expected versus an upwardly revised 10.7% surge in March. The US dollar index is retreating for the second consecutive day with weak momentum and unable to surpass the 91.00 mark. Dollar/yen is trading soft but above the 109.00 psychological level. The dollar could gain on a rise in US yields, while the slow recovery in the employment market may turn consumption [..]

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