All Articles Tagged - NZDUSD

Daily Market Comment – Yen and franc dive but stocks unable to sustain Powell bounce

Posted on February 24, 2021 at 10:28 am GMT

Safe-havens yen and franc plunge again as Powell boosts recovery hopes US stocks pull back from sharp dip but elevated yields continue to weigh Pound catapults to fresh highs; aussie, kiwi and loonie soar too Powell reassurance sends safe havens skidding Growing optimism about a vaccine-led recovery continued to reverberate through currency markets on Wednesday, steering riskier pairs to fresh highs, while pummelling traditional safe havens such as the yen and Swiss franc. The latest wave of positive outburst comes [..]

Technical Analysis – NZDUSD maintains upside potential, but some caution grows

Posted on February 24, 2021 at 7:25 am GMT

NZDUSD sped up beyond its January’s peak after breaking above a symmetrical triangle, with the price charting a fresh 34-month high of 0.7382 on Wednesday. The short-term bias continues to look bullish as the RSI is sloping upwards and towards its 70 overbought mark, and the MACD keeps strengthening its positive momentum above its red signal line. That said, the price is currently within breathing distance of the 0.7400 ceiling, which triggered the six-month-old downtrend in April 2018, raising some speculation that the bears could be around the [..]

US Open Note – Dollar up, stocks sharply lower ahead of Powell’s testimony

Posted on February 23, 2021 at 2:10 pm GMT

Waiting for Powell to respond to inflation expectations Rising inflation expectations and the rally in bond yields will be examined during Powell’s semi-annual testimony before the Senate at 15:00 GMT as markets will be eagerly waiting for the Fed chief to update his views regarding price growth, economic expansion and the outlook for monetary policy. Although Powell may prefer to play it safe, reiterating that downside economic risks continue to linger in the background and that it is too early [..]

Daily Market Comment – Dollar and tech shares suffer ahead of Powell’s testimony

Posted on February 23, 2021 at 9:47 am GMT

· Tech stocks slump as higher yields bite, but FX and commodities calm · Dollar lags despite equity selloff, highlighting recent shift in dynamics · All eyes on Chairman Powell’s testimony today, and RBNZ decision afterward Nasdaq gets smoked as value outshines tech It was a particularly strange session on Monday, with many of the familiar relationships between asset classes breaking down thanks to the pandemonium in bonds. US stock markets retreated for a fifth consecutive day, with the Nasdaq [..]

US Open Note – Wall Street could open with tears as bond yields weigh

Posted on February 22, 2021 at 2:16 pm GMT

Euro holds resilient above 1.2100; European stocks set for a negative close World shares kicked the week off on a negative note as the endless rally in bond yields made equity valuations look more stretched than they already are. Discussions about reopening plans in Europe created optimism that the vaccine rollout, although delayed, could put the region on a positive path, with investors turning somewhat sensitive to data releases for any early sign. Hence, the upside surprise in the German [..]

US Open Note – Riskier currencies cheer on dollar weakness as stocks heal

Posted on February 19, 2021 at 2:16 pm GMT

From optimism to doubts A surprising pickup in US weekly jobless claims proved on Thursday how easily market sentiment can switch from hopes of a speedy recovery to doubts of a robust expansion, triggering a pullback on Wall Street. Although weaker growth prospects tend to hurt bond yields, the US 10-year Treasury yield managed to rebound in the aftermath as the jobs data urged the need for Biden’s $1.9 trillion stimulus package, and therefore signalled an even bigger bond issuance. [..]

Technical Analysis – NZDUSD shifts gear and accelerates upwards

Posted on February 19, 2021 at 1:52 pm GMT

NZDUSD today aggressively shot above the 50-period simple moving average (SMA) at 0.7220 and has overstepped the 0.7225 level and the highs of 0.7267 and 0.7280, with relative ease. Despite the lack of positive incline in the SMAs, they continue to back the improving picture. The short-term oscillators are also sponsoring positive price action. The MACD is strengthening above its zero and trigger lines, while the advancing RSI is approaching the 70 level. The stochastic lines, which are in overbought [..]

Kiwi rally stalls but will the RBNZ risk taking another hawkish turn? – Forex News Preview

Posted on February 19, 2021 at 1:27 pm GMT

The Reserve Bank of New Zealand will hold its first policy meeting of the year on Wednesday, with an announcement expected at 01:00 GMT, followed by Governor Orr’s press conference at 2:00 GMT. While other central banks have been keen to stress that they are nowhere near thinking about scaling back some of the unprecedented stimulus they’ve unleashed during the pandemic, the RBNZ was the first to formally tone down its dovish aspirations slightly back in November. Since then, economic [..]

Week Ahead – Dollar realigns with US fundamentals, RBNZ meets

Posted on February 19, 2021 at 1:02 pm GMT

There’s been a striking change in the dynamics of the FX market lately, with the US dollar no longer trading exclusively as a safe haven and instead reacting to American economic data. Investors have their eyes on the Fed, even if it is too early to price in a proper QE withdrawal. The main event in the coming week is the RBNZ meeting, where the central bank could strike a more cheerful tone. Fed Chairman Powell also testifies before Congress. [..]

Daily Market Comment – Higher yields start to bite but dollar mired in recovery doubts

Posted on February 19, 2021 at 9:59 am GMT

Long-term Treasury yields climb again, dampening the mood in equity markets Stocks and gold slide, but dollar stumbles over poor jobless claims figures Pound hits $1.40, unbruised by big retail sales miss; aussie soars Surge in global bond yields spooks markets Global bond yields are creeping higher again after a brief reprieve mid-week. The record issuance of government bonds and expectations of even greater borrowing to fight the pandemic have sparked a bond selloff as the reflation trade gets into [..]

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