All Articles Tagged - NZDUSD

Daily Market Comment – Dollar sinks again on rising optimism but stock rally cools

Posted on December 3, 2020 at 10:03 am GMT

Dollar slide deepens as stimulus and vaccine hopes drive positive theme But vaccine-led rally may have run its course in equity markets as stocks mixed today Tense Brexit talks keep pound on edge, euro roars past $1.21 Oil slips ahead of OPEC+ decision; gold extends rebound The US dollar slipped further on Thursday, slumping to fresh 31-month lows against a basket of currencies, as investors dumped the world’s reserve currency in the face of increased optimism about the global economic [..]

Daily Market Comment – Stimulus, vaccine euphoria push stocks to new highs, dollar sags

Posted on December 2, 2020 at 9:52 am GMT

US stimulus hopes revived after fresh efforts to kickstart talks Vaccine rollouts edge closer after UK approval Stocks scale new heights, but signs of exhausted rally Dollar slump deepens even as Treasury yields jump Brexit jitters take steam out of pound rally Optimism soars as stimulus talks back on Markets had plenty to cheer about on Wednesday as reports of renewed efforts by US lawmakers to kickstart the stalled stimulus talks were followed by news that Pfizer-BioNTech’s vaccine has won [..]

Technical Analysis – NZDUSD surges to fresh 32-month high; strongly positive

Posted on December 2, 2020 at 8:26 am GMT

NZDUSD surged to a new 32-month high of 0.7072 earlier today, continuing the buying interest that started after the pullback off the 0.5470 support level. The price is developing well above the ascending trend line and the 20- and 40-day simple moving averages (SMAs). The MACD seems to be gaining momentum above its trigger line, while the RSI is still hovering around its 70 overbought mark, signaling more cautious trading in the short-term. The pair needs to overcome today’s peak to meet the 0.7160 resistance level, identified by the [..]

Daily Market Comment – Stocks resume gains, dollar whipsaws as optimism returns

Posted on December 1, 2020 at 10:01 am GMT

Asian recovery gathers speed, pulling global stocks higher Dollar bounces higher, then falls as temporary growth jitters subside Powell offers no policy clues in prepared remarks as US data underwhelms Pound spikes above $1.34 as Brexit deal speculation heats up Recovery back on track, at least in Asia Strong manufacturing PMIs out of Asian powerhouses lifted the market mood on Tuesday, reversing some of the gloom that set in yesterday from soft US indicators. A quickening in the manufacturing revival [..]

Daily Market Comment – Dollar slips again on Fed speculation; stocks pause for breath

Posted on November 30, 2020 at 9:58 am GMT

Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues Stocks stumble at start of week, but vaccine progress keeps risk appetite alive Pound still holding out for Brexit breakthrough as time running out Oil slips as OPEC+ unlikely to agree on long extension to output cuts Dollar remains pinned down in crucial week There was no end in sight to the US dollar’s losing streak at the start of the new trading week as [..]

Technical Analysis – NZDUSD flies to 29-month high above 0.7000

Posted on November 27, 2020 at 8:55 am GMT

NZDUSD has been developing near to multi-month highs of 0.7028, continuing the powerful buying interest that started from 0.6586. The RSI indicator is hovering around the overbought region, while the MACD is strengthening its movement in the bullish area but marginally beneath the trigger line. The simple moving averages (SMAs) are endorsing the upside tendency as all of them are ticking higher in the near term. A jump above today’s high could open the way for the 0.7060 resistance, that being the [..]

Technical Analysis – NZDUSD’s ascent pauses but confidence remains intact

Posted on November 25, 2020 at 9:06 am GMT

NZDUSD is sustaining its bullish demeanour despite sentiment slowing to a degree, after reaching a 29-month high of 0.7004. The Ichimoku lines are preserving the pair’s positive bearing, while the rising simple moving averages (SMAs) are defending the bullish structure. The short-term oscillators reflect some waning in positive momentum. The MACD, some distance north of the zero line, is flattening above its rising red trigger line, while the RSI, merely above the 70 mark, is pointing southwards. Moreover, the stochastic [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 9:58 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 9:31 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

Technical Analysis – NZDUSD rallies towards previous high of 0.6945

Posted on November 20, 2020 at 9:54 am GMT

NZDUSD is trading not too far from the 0.6945 resistance level and momentum indicators suggest there is still some optimism for the pair to advance again. The near-term bias is looking bullish as the RSI is edging north in the bullish area, while the MACD is trying to extend its movement above its trigger line. Price action at the moment is above the Ichimoku cloud so the risks are to the upside. Should the pair make another run higher, it’s likely to [..]

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