All Articles Tagged - NZDUSD

Week Ahead – US and China data could reinforce optimism but RBNZ to sound caution

Posted on April 9, 2021 at 12:17 pm GMT

As the dollar recedes on some scepticism around the aggressive bets of an early Fed tightening, US inflation and retail sales numbers due in the coming week could reignite those expectations. There could be a further boost to the global recovery outlook if Chinese GDP figures point to strong growth in the first quarter. In the UK, the monthly GDP print might not be able to provide much respite for the sagging pound and the kiwi might have a hard [..]

Technical Analysis – NZDUSD sets a foothold to fight key resistance

Posted on April 7, 2021 at 9:25 am GMT

NZDUSD pushed above the four-month low of 0.6942 to test the 20-day simple moving average (SMA), which has been capping bullish actions since the start of March. The line, which is currently hovering around 0.7074, is a hurdle for the third consecutive day, and the slowing pace in the RSI, as well as the easing momentum in the Stochastics, are providing little optimism for another bullish extension. Nevertheless, as long as the red Tenkan-Sen and the 50% Fibonacci retracement of the [..]

US Open Note – European stocks in cheerful mode; dollar is still the king despite pullback

Posted on April 6, 2021 at 1:15 pm GMT

European indices hit record highs, but economic outlook still bleak The European equities had a pleasant start after a long weekend on Tuesday, rushing to catch up with the rally in US rivals, sending the STOXX 600 and the German DAX 30 to fresh record highs early on Tuesday. The stock rally emerged after a barrage of US data provided evidence that the recovery in the biggest economy of the world is picking up steam, while news that some Democrats favor [..]

US Open Note – NFP skyrockets, showing strong recovery in US; dollar turns green

Posted on April 2, 2021 at 1:00 pm GMT

Nonfarm payrolls surge by 916k; unemployment rate plunges Today’s nonfarm payrolls report is the biggest and only event of the day in the absence of any other data due to most markets being closed for Good Friday, with forex being the only notable market open. The report generated some volatility in the greenback after several months of muted impact. The US economy added 916k jobs in March from February’s job growth of 379k, beating expectations of a 660k increase, the strongest employment growth in seven months. The unemployment rate ticked [..]

Daily Market Comment – Dollar and yields retreat as S&P 500 smashes 4,000 level

Posted on April 2, 2021 at 8:46 am GMT

Biden’s tax increases dampen Treasury yields, dollar slips back S&P 500 hits new record above 4,000 amid recovery hopes, NFP eyed Oil likes OPEC+ plans to gradually ease supply curbs Dollar on the backfoot ahead of NFP The US dollar was struggling to hold onto to its weekly gains after falling sharply on Thursday on the back of the slide in Treasury yields. The retreat in long-dated yields comes after President Biden said his $2 trillion infrastructure plan would be [..]

Daily Market Comment – Biden infrastructure plan gets lukewarm reception, dollar steady

Posted on April 1, 2021 at 9:12 am GMT

Biden unveils $2.3 trillion in infrastructure spending, but much of it already priced in Stocks edge up after mixed day on Wall Street, Treasury yields hold steady Dollar maintains gains, euro weighed by French lockdown, aussie crumbles Gold gets quarter-end boost, oil eyes OPEC+ decision Biden announces tax-and-spend plans US President Joe Biden outlined his much-awaited plan on boosting infrastructure across America on Wednesday, unveiling a $2.25 trillion package that looks set to divide Congress. Biden’s ambitious policies include billions [..]

Technical Analysis – NZDUSD bears relax but bearish risks linger

Posted on March 31, 2021 at 8:22 am GMT

NZDUSD’s negative impetus has abated slightly after a strong plunge and sellers seem to have taken the bench for a breather. The 200-day simple moving average (SMA) is defending the positive structure, while the dipping 50-day SMA is nearing a bearish crossover of the 100-day SMA, whose upwards trajectory is starting to wane. The diving Ichimoku lines are signalling that negative momentum is set to resume, while the short-term oscillators are reflecting a decrease in the price’s downward potency. The [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

Daily Market Comment – Equities bounce back, dollar holds firm, euro steadier

Posted on March 26, 2021 at 10:14 am GMT

Mood brightens after Wall Street posts late rebound but risks from quarter-end flows Dollar slightly off highs, euro barely recovers as EU leaders clash over vaccines Aussie and kiwi lead gainers, oil jumps again as Suez Canal blockage could last weeks Stocks head higher as traders focus on US recovery World stocks look set to end a turbulent week on a more positive note after upbeat news on the US economy fuelled a late rally on Wall Street on Thursday. [..]

Technical Analysis – NZDUSD’s bearish risks grow as foothold appears feeble

Posted on March 26, 2021 at 9:32 am GMT

NZDUSD is echoing a dominating bearish tone as the vital resistance section of 0.6992-0.7010 (previous support-now-resistance) is curbing efforts of a greater positive pullback off 0.6942, which reflects a four-month low. The pair is now consolidating in the vicinity of the red Tenkan-sen line, while the falling simple moving averages (SMAs) are feeding the negative picture. The flattening blue Kijun-sen line is reflecting the pause in the downwards price move, while the short-term oscillators are conveying mixed signals in directional [..]

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