All Articles Tagged - NZDUSD

Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:53 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]

Technical Analysis – NZDUSD battles resistance band; bullish bias persists

Posted on September 18, 2020 at 11:52 am GMT

NZDUSD is clashing with the 0.6789 to 0.6800 resistance band following its latest climb from 0.6600, which produced a 17½-month high. The recent pickup in the 50- and 100-period simple moving averages (SMAs) suggest further appreciation in the pair, while the merging Ichimoku lines continue to aid the positive drive in price. The short-term oscillators point to a slight weakness in positive sentiment. The RSI and the stochastic oscillator reflect the struggle in the price to overcome the resistance trench. [..]

Daily Market Comment – BoE clips pound’s wings, equities brace for turbulence

Posted on September 18, 2020 at 8:12 am GMT

Sterling capsizes after BoE opens door to negative rates Fed disappointment torments equities, but dollar doesn’t get the memo Market turmoil might continue today amid major option expiries Crude oil stages heroic comeback on supply hopes Bank of England does another policy U-turn The BoE injected another dose of volatility into British assets yesterday after it announced that it is studying the implementation of negative interest rates, just six weeks after it downplayed this policy as ineffective. It seems that [..]

New Zealand to join global recession club as RBNZ readies next move – Forex News Preview

Posted on September 16, 2020 at 2:37 pm GMT

New Zealand will report GDP numbers for the second quarter on Thursday (Wednesday, 22:45 GMT) and will be the last of the major advanced economies to do so. Currently, the United Kingdom is at the bottom of the Q2 growth table and Australia is at the top. The GDP data is likely to show New Zealand falls somewhere in the lower range of that table, taking a bigger hit than its aussie neighbour. But with a recovery now underway, the [..]

Technical Analysis – NZDUSD keeps bullish bias intact; next resistance at 0.6787

Posted on September 16, 2020 at 6:51 am GMT

NZDUSD printed another higher low around the ascending trendline drawn from the March lows and its shorter-term simple moving averages (SMA), further strengthening its six-month old uptrend. The positive slope in the RSI and the Stochastics, and the soft rebound in the MACD, which is set to cross back above its red signal line, suggest that there is more bullish action in store. The 20- and 50-day SMAs back this view too as the lines continue to point upwards. Still, [..]

Daily Market Comment – Another dose of vaccine optimism calms market nerves

Posted on September 14, 2020 at 8:35 am GMT

Positive vaccine headlines bolster global risk sentiment Suga set to become Japan’s new leader – general election imminent? Sterling recovers amid calmer market tones, looks to Parliament Vaccine news breathes life back into stocks, dollar sleepy Wall Street hit a rough patch last week, as investors finally paused to assess the utopian valuations in the tech sector. Vanishing hopes for a new relief package out of Washington D.C. and news that some coronavirus vaccines might be delayed because of safety [..]

Technical Analysis – NZDUSD hovers in Ichimoku cloud; gains some ground

Posted on September 11, 2020 at 9:14 am GMT

NZDUSD looks to be creating a floor inside the Ichimoku cloud and above the 200-period simple moving average (SMA). The RSI indicator is ticking marginally up near the neutral threshold of 50, while the stochastic posted a bullish crossover within its %K and %D lines following the bounce off the 20 level. Traders, however, would be more eager to engage in buying activities if the price manages to surpass the nearby 40-period SMA at 0.6687. If this is successfully breached, [..]

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Technical Analysis – NZDUSD’s footing at 50-day SMA reinstates certainty in ascent

Posted on September 9, 2020 at 8:14 am GMT

NZDUSD has found a toehold at the Ichimoku cloud’s upper surface joined by the 50-day simple moving average (SMA) at 0.6612, after its pullback from the 13½-month peak of 0.6789. The progressing slopes of the 50- and 100-day SMAs appear to be assisting the positive structure. That said, the positive Ichimoku lines reflect the stall in the climb, while the short-term oscillators display the recent weakening in price. The MACD has dipped below its red trigger line slightly above the [..]

Technical Analysis – NZDUSD’s foothold near 50-MA rescues positive bias

Posted on September 4, 2020 at 11:03 am GMT

NZDUSD’s drawback from the 13½-month high of 0.6789 appears to be restoring positive sentiment, after finding some traction around the 50-period period simple moving average (SMA) at 0.6687. The advancing SMAs and the approaching bullish crossover of the 200-period SMA by the 100-period one may re-establish confidence in the climb. The Ichimoku lines seem to have paused their negative bearing, while the short-term oscillators display a pick-up in positive momentum. The MACD looks set on improving from the zero area, [..]

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