All Articles Tagged - NZDUSD

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

Daily Market Comment – Growth worries dent vaccine optimism but can’t stem dollar slide

Posted on November 18, 2020 at 9:49 am GMT

Stocks mostly negative after disappointing US retail sales underline near-term risks Surge in US virus cases and fresh outbreaks in Japan, Australia unnerve markets Cautious tone unable to lift dollar as slump in Treasury yields weighs Kiwi outperforms again, pound is close behind amid hopes of a Brexit breakthrough Renewed growth jitters put brakes on vaccine rally The vaccine euphoria suffered a knockback after stalling retail sales numbers out of the United States yesterday highlighted the short-term challenges policymakers still [..]

Technical Analysis – NZDUSD stretches uptrend to a 20-month high; tests key barrier

Posted on November 18, 2020 at 7:53 am GMT

NZDUSD bulls picked up steam to a 20-month high of 0.6917 following the close above 0.6760, where the frequently tested 61.8% Fibonacci retracement of the long 0.7557 – 0.5468 downleg is placed. The recent bullish action could fade in the short term as the price is currently challenging a key ceiling from 2019 and the RSI seems unable to post a fresh peak above its 70 overbought mark. The MACD also looks to be losing momentum within the positive area, [..]

Daily Market Comment – Vaccine rally eases but optimism prevails

Posted on November 17, 2020 at 9:47 am GMT

Vaccine hopes keep risk assets supported even as more US states clamp down Dow closes in on 30,000 as growth-to-value rotation accelerates Dollar steadier, euro shrugs off EU budget crisis, pound holds out for Brexit deal Oil moderates ahead of OPEC+ meeting as bleak short-term outlook curbs advances Moderna adds to vaccine euphoria The fight against the pandemic took another major step forward on Monday after Moderna became the latest pharmaceutical company to announce a vaccine for COVID-19. Moderna’s vaccine, [..]

Daily Market Comment – Vaccine optimism, upbeat data push stocks to new highs, dollar retreats

Posted on November 16, 2020 at 9:51 am GMT

Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]

Technical Analysis – NZDUSD maintains bullish bias despite pullback

Posted on November 13, 2020 at 1:50 pm GMT

NZDUSD peaked at a 19½-month high of 0.6914 following a one-week ascent from 0.6612, before being pulled back below the mid-Bollinger band. The pair has found some footing at the upper part of a support base surrounding the lower Bollinger band. The upward sloping simple moving averages (SMAs) are sustaining a strong bullish bearing while momentum in the short-term oscillators appears to be picking up. The MACD, in the positive region, is decreasing below its red trigger line but its [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 9:36 am GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

Technical Analysis – NZDUSD advances past critical 0.6800 mark; picture bullish

Posted on November 11, 2020 at 11:13 am GMT

NZDUSD’s newfound strength off the 100-day simple moving average (SMA) has prodded the pair above the tough 0.6800 boundary, resulting in a 19½-month high of 0.6903 being realized. The gradual incline of the 100-day SMA and the upturn in the 200-day SMA, in addition to the bullish tone of the Ichimoku lines, endorse further advances. The short-term oscillators currently reflect intact positive momentum. The MACD is increasing above its red trigger line in the positive area, while the RSI is [..]

Daily Market Comment – RBNZ lights a fire under the kiwi, sterling climbs too

Posted on November 11, 2020 at 9:13 am GMT

RBNZ plays down negative rates, kiwi flies Sterling leaps after divisive bill suffers crushing defeat in Lords Markets in a cheerful mood overall, but watch the Fed Kiwi charges higher after RBNZ ‘disappoints’ The kiwi dollar took off like a rocket on Wednesday, extending the gains it recorded amid all the vaccine enthusiasm, after the Reserve Bank of New Zealand poured cold water on speculation for negative rates. While the Bank maintained a cautious tone and even introduced a [..]

Daily Market Comment – Wall Street charges higher on vaccine news, but bond market ruins the party

Posted on November 10, 2020 at 9:18 am GMT

US stock market hits new record after Pfizer vaccine announcement Crude oil and commodity currencies soar, yen crumbles alongside gold However, the party doesn’t last – stocks give up most gains, dollar reverses higher RBNZ meeting coming up, vaccine and stimulus news remain in focus Pfizer vaccine news catapult markets to new records Christmas came early for investors this year, with global equities charging higher and safe havens falling apart after drug maker Pfizer announced that the coronavirus vaccine it [..]

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