All Articles Tagged - NZDUSD

RBNZ set to launch new lending programme; negative rates may have to wait – Forex News Preview

Posted on November 10, 2020 at 6:45 am GMT

The Reserve Bank of New Zealand is due to announce its latest policy decision on Wednesday (01:00 GMT) and will present its updated forecasts in the Monetary Policy Statement to be published at the same time. New Zealand’s economic prospects have started to turn up lately as the country emerges from a second nationwide lockdown. But uncertainty about the global outlook and a soaring local dollar mean the central bank is far from done in its easing cycle and is [..]

Daily Market Comment – Stocks resume furious rally as Biden wins

Posted on November 9, 2020 at 8:59 am GMT

US election ‘aftershocks’ continue – equities roar higher, dollar slips Several theories floated to justify this relentless rally, but question is, can it last? Markets may revert to trading covid news and prospect of fiscal package Crunch time in Brexit talks too, traders seem confident a deal is coming US stocks back near record highs It’s official. Joe Biden was declared the new president-elect of the United States over the weekend, injecting another dose of optimism into global markets even [..]

Week Ahead – The calm after the US election storm

Posted on November 6, 2020 at 12:31 pm GMT

It’s a relatively quiet week coming up for global markets as the election dust settles. The main event will be the RBNZ policy meeting, though frankly, the real driver for most currencies and stocks may be the ‘aftershock’ effects of the election. There’s also a slew of economic data, the Brexit adventure continues, and the earnings season winds down. There’s no keeping this market down No ‘blue wave’ in the US election? No problem. This was essentially the market response [..]

Technical Analysis – NZDUSD hits wall at fresh high; positive momentum under strain

Posted on November 6, 2020 at 10:46 am GMT

NZDUSD retreated slightly from a newly formed resistance band of 0.6797-0.6801 involving the previous 17½-month high of 0.6797. The improvement in the bullish simple moving averages (SMAs) is assisting the positive price action, though the technical indicators reflect some waning in the pair. The short-term oscillators reflect the struggle in price to ascend further. The MACD is some distance in the positive region and above its red trigger line but looks to be easing somewhat, while the RSI is hovering [..]

Daily Market Comment – Dollar firms, stocks rattled as US election too close to call

Posted on November 4, 2020 at 9:13 am GMT

Anxious wait for election outcome as race much tighter than anticipated Dollar and yen creep higher as election uncertainty mounts Stocks steady until Trump threatens to block mail-in ballot counting Trump closes in on Biden; might be a long wait The race for the White House is proving tighter than many had anticipated and certainly more than what the opinion polls had indicated as incumbent President Trump wins in several battleground states. As of 09:00 GMT, Trump had secured the [..]

Technical Analysis – NZDUSD skewed positive, yet momentum jammed

Posted on November 4, 2020 at 9:01 am GMT

NZDUSD looks motionless around the Ichimoku cloud and stuck between the 50- and 100-day simple moving averages (SMAs). Nonetheless, the slightly upward sloping Ichimoku lines and the 50- and 100-day SMAs are continuing to promote a rather positive tone. That said though, the short-term oscillators reflect a condition of weak directional momentum. The MACD is holding marginally above the zero line but below its trigger, while the downward-pointing RSI is flirting with its neutral threshold. However, the stochastics %K line [..]

Daily Market Comment – Dollar slips, stocks rally as world awaits next US president

Posted on November 3, 2020 at 9:57 am GMT

Few signs of market jitters on Election Day despite uncertainty about outcome Strong manufacturing data help ease virus fears, stocks bounce back Dollar retreats from highs, aussie shrugs off rate cut to turn higher Biden still in the lead, Trump talks legal action Americans go to the polls today to vote for the next president of the United States following a chaotic election campaign amidst a global pandemic. Most final polls ahead of the election put Democratic candidate Joe Biden [..]

Technical Analysis – NZDUSD rebounds off lower bound of ascending channel

Posted on October 30, 2020 at 10:16 am GMT

NZDUSD is holding beneath the 200-period simple moving average (SMA) inside the upward sloping channel in the 4-hour chart. In momentum indicators, the RSI is sloping slightly up in the negative territory, while the MACD is moving sideways below the zero level, framing a neutral-to-bearish bias . Should bullish dynamics dominate, the market might revisit the 20- and 40-period SMAs at 0.6660 and 0.6670 respectively. Above them, the area around 0.6725, which halted bullish movements in the past, could be another barrier in focus, while a [..]

Daily Market Comment – Stocks tank, yen shines amid lockdown blues; ECB coming up

Posted on October 29, 2020 at 9:33 am GMT

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision and US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight of the new shutdowns in Europe yesterday, with the newfound uncertainty around the US election making matters worse. The straw that finally broke the camel’s back [..]

Technical Analysis – NZDUSD develops above MAs; bullish signals grow

Posted on October 23, 2020 at 12:07 pm GMT

NZDUSD maintains a positive tone despite stalling slightly above the 0.6687 level, that being the 61.8% Fibonacci retracement of the down leg from 0.6797 to 0.6510. The climbing red Tenkan-sen line, which has distanced itself above its blue Kijun-sen line, is suggesting strengthening price action. Moreover, the minor upward inclines in the 50- and 100-period simple moving averages (SMAs) promote forthcoming additional advances too, and could boost this view should they cross above the 200-period SMA overhead. Furthermore, momentum in [..]

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