All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD advances after bounce off 5-month low

Posted on April 25, 2024 at 12:22 pm GMT

NZDUSD remains beneath downtrend line 50- and 200-day SMAs post bearish cross MACD and stochastics confirm upside move NZDUSD is boosting its upside movement after the pullback off the five-month low of 0.5850. The pair is currently testing the 20-day simple moving average (SMA); however, the 50- and the 200-day SMAs are ready for a bearish crossover slightly beneath the descending trend line. Technically, a rebound in the price cannot be excluded as the RSI is moving up to surpass [..]

Technical Analysis – NZDUSD bounces off a 5-month low

Posted on April 23, 2024 at 7:29 am GMT

NZDUSD declines sharply within descending channel Drops to its lowest since November before paring some losses Oscillators are deep in their negative territories NZDUSD has been in an aggressive downtrend since its double rejection at the 0.6217 region in early March. Although the pair posted a fresh five-month bottom of 0.5851 last week, it seems that the retreat has paused for now. Given that both the RSI and MACD remain tilted to the downside, the price might revisit 0.5899, which is the [..]

Technical Analysis – NZDUSD falls to fresh 5-month low

Posted on April 19, 2024 at 10:57 am GMT

NZDUSD creates lower lows in medium-term Stochastics indicate oversold market NZDUSD is recovering somewhat after it posted a new five-month low of 0.5850. The market is still in a strong descending tendency with the technical oscillators showing some mixed signs. The RSI is pointing slightly down beneath the 50 level, while the stochastic posted a bullish crossover within its %K and %D lines in the oversold area. If there is an extension to the downside and a break beneath the [..]

Market continues to price in a plethora of rate cuts for 2024 – Special Report

Posted on April 17, 2024 at 1:03 pm GMT

Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market is digesting both the latest geopolitical developments and the recent rally in oil prices as the countdown to the May 1 Fed meeting has begun. [..]

Technical Analysis – NZDUSD bounces off 5-month low

Posted on April 17, 2024 at 7:11 am GMT

NZDUSD posts some gains after negative days Immediate resistance at 0.5940 Stochastics and RSI tick higher NZDUSD rebounded off the five-month low of 0.5858 after three straight negative days with the technical oscillators confirming that an upside recovery may be on the cards. The RSI is pointing north near the 30 level, while the stochastic posted a bullish crossover within its %K and %D lines. Immediate resistance is coming from the 0.5940 barrier ahead of the 20-day simple moving average (SMA) at 0.5980. If [..]

Week Ahead – More inflation data on the way as rate cut bets thrown into disarray

Posted on April 12, 2024 at 10:53 am GMT

CPI numbers due in the UK, Japan, Canada and New Zealand China to also come into the spotlight as Q1 GDP eyed US retail sales to kickstart the week as earnings season gets underway CPI figures to headline UK data flurry After yet another hot CPI report in the United States, inflation data will remain at the forefront of the upcoming week’s releases, including in the United Kingdom. But first up on the UK agenda will be the February employment [..]

Market Comment – Dollar and equities trade higher in anticipation of US CPI release

Posted on April 10, 2024 at 8:05 am GMT

US dollar and stocks are in the green today ahead of the key US CPI report All eyes will be on equites if CPI surprises on the upside RBNZ remains hawkish; BoC could show a dovish tilt Dollar and stocks in the green ahead of US CPI The US dollar is higher today as the market is preparing for this week’s key event. While Thursday’s ECB meeting is crucial, today’s US inflation report could determine the wider market performance until [..]

Technical Analysis – NZDUSD bulls show up before RBNZ rate announcement

Posted on April 9, 2024 at 3:28 pm GMT

NZDUSD shows recovery signs ahead of RBNZ decision Resistance near 0.6070; support at 0.6000 NZDUSD entered the week on a positive note as investors awaited to hear the RBNZ’s policy update during Wednesday’s Asian trading hours. The pair stretched Monday’s rebound marginally above the 200-day simple moving average (SMA) to examine the 50% Fibonacci retracement of the October-December downleg at 0.6070. The area has been restricting both upside and downside movements so far this year. Hence, a victory over it [..]

RBNZ may start laying groundwork for a rate cut – Preview

Posted on April 5, 2024 at 11:48 am GMT

A dovish shift seems to be underway at the Reserve Bank of New Zealand Technical recession and falling inflation may pave way for 2024 rate cut Is a dovish hold on the cards at Wednesday’s meeting (02:00 GMT)? Weaker economy has been good news for inflation New Zealand’s economy shrunk in the final three months of 2023, entering a technical recession for the second time in 15 months. In the bigger picture, economic growth appears to have stagnated, much like [..]

Week Ahead – ECB decision and US inflation to fuel FX volatility

Posted on April 5, 2024 at 11:05 am GMT

Central bank decisions in Eurozone, Canada, and New Zealand Highlight will be the ECB – likely to signal a rate cut in June In US, the dollar will be driven by inflation stats and Fed minutes ECB meeting – Nearly time to cut The Eurozone economy has gone through a rough patch over the last year. Growth has been almost stagnant, held back by Germany, which fell into contraction as a slowdown in global trade suppressed demand for exports [..]

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