All Articles Tagged - NZDUSD

Week Ahead – Markets to stay choppy ahead of virtual Jackson Hole symposium

Posted on August 21, 2020 at 12:49 pm GMT

The Federal Reserve will be front and centre next week as traders will be hoping policymakers will provide clearer signals on future monetary stimulus than they did in the FOMC minutes when they hold a virtual gathering of their annual economic symposium. Data out of the United States will constitute the predominant data releases, and coupling that with the Fed event, there can be little doubt the US dollar will be the primary driver of the FX market in an [..]

Technical Analysis – NZDUSD rises after the slip to 7-week low

Posted on August 21, 2020 at 9:47 am GMT

NZDUSD reached oversold levels according to the stochastic oscillator and reversed higher after it hit a new seven-week low at 0.6487. The RSI is also returning higher in the negative territory. While the aforementioned technical indicators continue to pick up speed, mirroring the market’s upside retracement in the very short-term the 20- and 40-period simple moving averages (SMAs) are trying to tick higher increasing their distance above the price action. In case the pair changes its short-term direction to the upside, the bulls will probably challenge [..]

Daily Market Comment – Wall Street eclipses all-time high, dollar gets a black eye

Posted on August 19, 2020 at 8:24 am GMT

S&P 500 closes at a new record, powered by slowing US cases and stimulus signals Dollar gets hammered, hits fresh two-year lows Sterling capitalizes most on the dollar’s troubles Today: FOMC minutes and Canadian inflation numbers Mission accomplished: Wall Street at new records There’s no stopping the US equity freight train. The S&P 500 erased all its losses since the pandemic rocked global markets to capture new records, pulling off its quickest ever return to new highs after entering a [..]

Technical Analysis – NZDUSD ticks up but still beneath uptrend line

Posted on August 19, 2020 at 7:03 am GMT

NZDUSD has ticked higher after the drop beneath the five-month ascending trend line in the previous week. The momentum indicators are gaining ground as the RSI surpassed the 50 level and is sloping north, while the stochastic oscillator is heading towards the overbought level following the bullish cross within the %K and %D lines. The price could hit the six-month peak of 0.6717 ahead of the 0.6750 resistance, registered on December 2019. Even higher, NZDUSD could turn traders’ focus at [..]

Daily Market Comment – Greenback and equities at critical crossroads

Posted on August 18, 2020 at 8:13 am GMT

Dollar extends slide, now testing crucial support levels Nasdaq hits another record, but S&P 500 can’t overcome its own peak Yen and gold recover as global yields fall back down Dollar feels the heat of stronger risk appetite No news is bad news for the world’s reserve currency lately, which continues to surrender ground even without any noteworthy developments, pressured by the ‘risk on’ atmosphere in the markets. Unless investors are in a truly defensive mood, the greenback is struggling [..]

Technical Analysis – NZDUSD favours trend reversal scenario

Posted on August 14, 2020 at 10:54 am GMT

NZDUSD changed course to the downside this month, printing lower highs and lower lows after peaking at a new 8-month high of 0.6714 in the four-hour chart. Besides the negative price action, the bearish cross registered between the 20- and 200-period simple moving averages (SMAs) this week, which is the first since January, further raised concerns of a down-trending market. With the Stochastics pushing for a rebound just below their 20 oversold level and the RSI not far above 30, [..]

Daily Market Comment – Dollar firms, stocks muted amid stalled stimulus talks, soft China data

Posted on August 14, 2020 at 9:00 am GMT

Hopes fade for a quick stimulus deal in the US as Congress leaves town Weaker-than-expected Chinese data adds to recovery worries Dollar pulled from lows as subdued tone weighs on stocks Stalemate on Capitol Hill A deal on a new coronavirus relief package looked increasingly out of reach as US Senators left Washington for the summer recess, pushing the likely timing of an agreement to September when both houses return. A last-ditch attempt on Wednesday to resume talks went nowhere [..]

Daily Market Comment – Vaccine fever shakes markets, RBNZ shoots kiwi down

Posted on August 12, 2020 at 8:13 am GMT

Vaccine news catapult global yields higher, push stocks lower Gold falls without a parachute – has it peaked? Dollar inches higher amidst the turbulence, but Fed speakers are a risk RBNZ expands QE and opens door to negative rates, kiwi stumbles Putin says Russia has developed the first vaccine President Vladimir Putin unleashed mayhem in financial markets on Tuesday, after he announced to the world that Russia has developed the first successful coronavirus vaccine. Global bond yields erupted higher [..]

Technical Analysis – NZDUSD dips beneath 5-month uptrend line

Posted on August 12, 2020 at 7:43 am GMT

NZDUSD has declined beneath the five-month ascending trend line and the 40-day simple moving average (SMA), indicating a downside pullback. The momentum indicators are losing ground as the RSI is edging below the 50 level and the MACD is slipping below the trigger line in the positive zone. The Ichimoku red Tenkan-sen line is pointing down, approaching the blue Kijun-sen line. More downside pressure could send the market towards the 23.6% Fibonacci retracement level of the up leg from 0.5467 [..]

Daily Market Comment – US stocks flirt with record highs, gold retraces

Posted on August 11, 2020 at 8:21 am GMT

S&P 500 cruises towards all-time high as Trump floats capital gains tax cut Markets also take heart from ‘soft’ Chinese retaliation against US Gold pulls back as dollar and bond yields recover RBNZ meets overnight, might ‘talk down’ the kiwi more forcefully Wall Street sets its sights on new records Financial markets seem to have concluded that better days lie ahead for the global economy, with most asset classes trading in a buoyant manner this week. The S&P 500 is [..]

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