All Articles Tagged - NZDUSD

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

Technical Analysis – NZDUSD prepares for footing or tumble; gains questioned

Posted on May 12, 2021 at 6:42 am GMT

NZDUSD has deflected off the 0.7306 high and is currently tackling the 0.7239 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 0.6510 until 0.7464. The 200-day simple moving average (SMA) is defending the uptrend, while the entwined and horizontal 50- and 100-day SMAs are not endorsing any clear direction for now. The Ichimoku lines are signalling that bullish sentiment has slightly eased, while the short-term oscillators are reflecting a pickup in negative pressures. The [..]

Week Ahead – US and UK data to lead quiet week as dollar can’t make up its mind

Posted on May 7, 2021 at 12:14 pm GMT

After plenty of excitement from central banks and top-tier economic releases in the past couple of weeks, things will take a backseat over the next seven days. The slower news pulse could give way to some sideways action in currency markets as the US dollar fights off selling pressure. A more cautious mood on Wall Street could assist dollar bulls as stocks tend to perform poorly in May. There could be a further boost for the greenback coming in the [..]

Technical Analysis – NZDUSD fails to progress as bullish drive dwindles

Posted on May 7, 2021 at 9:33 am GMT

NZDUSD has hit a snag as upside momentum appears to have evaporated, indicating that the pair may struggle to further extend its recent bounce off the uptrend line pulled from the 0.6944 low. The 50- and 200-period simple moving averages (SMAs) are suggesting a more neutral price development towards the ascending line, whereas the 100-period SMA is backing additional price improvements. The Ichimoku lines are not transmitting a clear price direction, while the short-term oscillators are signalling that present sentiment [..]

US Open Note – Stocks recoup lost ground, dollar retreats, gold steadies and oil climbs

Posted on May 5, 2021 at 2:27 pm GMT

Stocks recover and dollar bounces back As a slight return in risk assets seeps into markets and major US indices regain their buoyancy, the forex environment seems to be subdued. The Nasdaq is reclaiming yesterdays’ lost ground but at a slower pace than the S&P 500, while the Dow Jones is holding back at its all-time highs. The blow to markets footing was apparent in the US indices’ Tuesday tumble, corresponding to US Treasury Secretary Yellen’s erroneous choice of words [..]

Technical Analysis – NZDUSD pauses upside structure in near term

Posted on May 5, 2021 at 6:54 am GMT

NZDUSD is heading slightly up after the bounce off the 0.6940 support, hovering near the bullish crossover within the 20- and 40-day simple moving averages (SMAs). Technically, the indicators are showing mixed signals in the near term. The RSI is moving sideways near the neutral threshold of 50, while the MACD is declining below its trigger line but is still above the zero level. The stochastic is trying to exit from the oversold zone, indicating an upside movement. If the [..]

Weekly Comment – After dovish Fed, NFP unlikely to boost sagging dollar

Posted on April 30, 2021 at 2:10 pm GMT

The US dollar recouped some losses at the end of the week but couldn’t hide the bruises endured in April as the Fed dashed any remaining expectation that it will respond to any spike in inflation. The focus next week will be on the NFP numbers. But don’t expect the dollar to get excited. Next week’s highlights: The RBA meets on Tuesday and will update its view on the economy. Australia’s recovery remains strong but subdued inflation and [..]

Week Ahead – RBA to stand pat but BoE might taper; Can a bumper NFP excite after dovish Fed?

Posted on April 30, 2021 at 12:24 pm GMT

The central bank theme will continue over the next seven days with policy meetings by the Reserve Bank of Australia and Bank of England. The RBA will probably maintain some caution after weak inflation figures but there is some speculation the BoE could start to taper its asset purchases as early as the May meeting. On the data front, the nonfarm payrolls report is due out of the United States. However, after the Fed once again dismissed talk of an [..]

US Open Note –Stocks strong around highs, yields receive boost, dollar on back foot

Posted on April 29, 2021 at 1:44 pm GMT

Stocks optimistic as yields rise, risk remains somewhat subdued, GDP data key Stocks maintain an upbeat tone with the S&P 500 index winning the race, currently at the 4,214 level. The dollar index has surrendered its latest gains to today’s high of 90.67, pulling slightly lower to 90.53. The stumble in the greenback has strengthened the euro to $1.2133 assisted by a slur of positive Eurozone data, which is outperforming the relatively subdued sterling at $1.3944. The Fed has somewhat [..]

US Open Note – Fed decision in spotlight; dollar rises near 109 yen

Posted on April 28, 2021 at 1:11 pm GMT

FOMC meeting in focus; dollar heads higher The major highlight of the day is the Federal Reserve’s policy announcement at 18:00 GMT. Policymakers will likely recognize the fast economic recovery from the pandemic as the progressing vaccination program brightens the outlook for the economy. Despite that, the central bank is expected to keep interest rates steady within the target range of 0-0.25% and its monthly bond purchases stable at $120 billion. Following the Bank of Canada’s bond tapering announcement, investors will be eaerly waiting to hear whether the Fed is also planning [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

NZDUSD

XM Live Chat