All Articles Tagged - NZDUSD

Market Comment – Dollar awaits ISM services PMI, China sets dubious targets

Posted on March 5, 2024 at 9:33 am GMT

ISM non-mfg. PMI awaited ahead of Powell’s testimony and NFP Yen slide pauses after accelerating Tokyo CPIs Aussie and kiwi slip as China announces ambitious growth target Equities retreat ahead of key events, gold and bitcoin rally Dollar rebounds ahead of key data and events The US dollar rebounded somewhat against most of its major peers on Monday, although the fact that it lost decent ground against the euro and the pound kept the dollar index (DXY) lower. Today, the [..]

Technical Analysis – NZDUSD sinks almost 2% after RBNZ decision

Posted on February 28, 2024 at 1:29 pm GMT

NZDUSD back to losses with aggressive momentum Next target at 200-day SMA NZDUSD is plunging today, falling almost 2% in just one session after the RBNZ policy decision earlier today. The market is dropping beneath the 0.6100 round number and is moving towards the 200-day simple moving average (SMA) at 0.6070. Technically, the RSI indicator is diving below the neutral threshold of 50, while the MACD is losing some steam in the positive region, holding above its trigger line. If [..]

Market Comment – Kiwi plunges on RBNZ’s dovish turn, Wall Street consolidates

Posted on February 28, 2024 at 9:56 am GMT

Aussie and kiwi take a dive as Australian CPI, RBNZ ease rate hike fears China’s property troubles also weigh Wall Street and dollar await PCE data for direction RBNZ disappoints hawkish bets The Reserve Bank of New Zealand did not live up to the hawkish expectations that had been building up in the run up to today’s interest rate decision. Despite the recent hawkish commentary from Governor Orr and much speculation that the next move in the OCR is more [..]

Technical Analysis – NZDUSD drops aggressively, prepares to test a key area

Posted on February 28, 2024 at 7:59 am GMT

NZDUSD is lower today after the RBNZ’s decision to keep rates unchanged It trades a tad above a very busy support area Momentum indicators are possibly preparing to send bearish signals NZDUSD is recording its third consecutive red candle, crashing lower after the RBNZ’s decision disappointed certain market analysts expecting a rate hike earlier today. NZDUSD is currently trading a tad above the busy 0.6047-0.6092 area and the lower boundary of the 1-year-old rectangle, but still far from the 2024 [..]

Market Comment – Dollar stays on the backfoot ahead of key data, yen enjoys CPI lift

Posted on February 27, 2024 at 10:25 am GMT

Traders await some key data releases, RBNZ decision amid quiet start to the week Yen broadly firmer after CPI beat, adds to dollar weakness as euro extends gains Equity rally loses some steam but Bitcoin surges Markets calm ahead of data flurry as dollar struggles The US dollar was headed for its seventh straight session of losses against a basket of currencies on Tuesday even as investors continued to scale back their rate cut expectations for the Fed. There’s been [..]

Weekly Technical Outlook – USDJPY, EURUSD, NZDUSD

Posted on February 26, 2024 at 9:29 am GMT

US Core PCE price index expected to fall as USDJPY weakens Decline in flash Eurozone CPI may lead to rate cuts; EURUSD remains above 1.0800 RBNZ expected to keep rates unchanged; NZDUSD falls after bullish rally US Core PCE price index –> USDJPY The Federal Reserve is not rushing to ease policy, and markets are beginning to accept the possibility that there will be no rate cuts before the summer. Annually, the core PCE price index is anticipated to have decelerated [..]

Market Comment – Dollar gains ground ahead of key inflation data

Posted on February 26, 2024 at 9:22 am GMT

Dollar rebounds as PCE inflation data eyed Investors continue to scale back Fed rate cut bets Kiwi slides but RBNZ hike chance remains unchanged Wall Street loses steam, focus could turn on monetary policy Core PCE index the dollar’s next test The US dollar traded somewhat higher against most of the other major currencies on Friday, losing some ground only against the pound, the aussie and the kiwi. The greenback began the new week higher or virtually unchanged, gaining the [..]

Week Ahead – US and Eurozone inflation, RBNZ meeting to test rate cut bets

Posted on February 23, 2024 at 11:07 am GMT

US core PCE and Eurozone flash CPIs to keep inflation worries in the foreground Japanese and Australian inflation numbers also coming up RBNZ might strike a hawkish tone Manufacturing PMIs also in the spotlight PCE inflation to headline busy US data week The Fed is in no rush to ease policy and markets are finally starting to come round to the prospect of no rate cuts before the summer. Yet, stock markets have remained bullish, suggesting that the fact alone [..]

Will the RBNZ resume interest rate hikes? – Preview

Posted on February 23, 2024 at 10:20 am GMT

RBNZ among the few central banks maintaining a tightening bias ANZ prompts investors to place rate hike bets Inflation slows but remains well above RBNZ’s target range The Bank meets on Wednesday at 01:00 GMT Investors see decent chance for another hike The Reserve Bank of New Zealand (RBNZ) is among the few central banks that are maintaining a tightening bias on concerns about ongoing inflationary pressures. At its latest gathering, on November 29, the Bank kept interest rates steady [..]

Market Comment – Fed minutes confirm caution about lowering rates

Posted on February 22, 2024 at 9:46 am GMT

Fed minutes reveal concerns about lowering rates too soon Rate cut bets are pushed back but dollar remains unimpressed Kiwi continues to gain on increasing RBNZ hike speculation Wall Street closes mixed, Nvidia beats earnings estimates Dollar slides further despite hawkish Fed minutes The dollar traded lower against all but one of its major counterparts yesterday, with the New Zealand dollar being once again the main gainer and the Japanese yen the exception. The minutes of the latest FOMC decision [..]

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