All Articles Tagged - NZDUSD

New Zealand’s GDP data may hide economic challenges despite being rid of virus – Forex News Preview

Posted on June 17, 2020 at 1:35 pm GMT

New Zealand will be the last of the major economies to report GDP estimates for the first quarter. The data, due at 22:45 GMT on Wednesday, will likely show the Pacific island nation recorded its first economic contraction in nine years in the first three months of 2020. Policymakers at the Reserve Bank of New Zealand will be keeping a close watch on the numbers as they ponder whether to take rates to negative territory. Although New Zealand is now [..]

Technical Analysis – NZDUSD bears need trendline breakout to take control

Posted on June 17, 2020 at 7:25 am GMT

NZDUSD is smoothly curving up along a short ascending trendline following the slight pullback from the 5 ½-month high of 0.6854 last week. According to the RSI and the MACD, the pair continues to seek new lows as the former has already topped its 70 overbought mark and reversed lower, while the latter continues to decelerate below its red signal line. Technically, however, only a break below the trendline could bring more sellers on board and push support towards the [..]

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]

Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]

Technical Analysis – NZDUSD’s positive picture tackles negative tensions

Posted on June 12, 2020 at 12:34 pm GMT

NZDUSD is currently restricted by the 50-period simple moving average (SMA) residing at the level of the inside swing low of 0.6468. The pair is dealing with selling pressures, which appear to be strengthening, something also reflected in the Ichimoku lines as well as the RSI and the MACD indicators. Despite a pause in negative momentum in the MACD, it has distanced itself below its red trigger line and the zero mark, whilst the RSI has returned lower ahead of [..]

Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:02 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]

Daily Market Comment – Fed walks the dovish line, but markets want more

Posted on June 11, 2020 at 8:16 am GMT

Fed commits to rock bottom rates for years, reaffirms ‘whatever it takes’ stance Dollar drops initially and stocks jump, but moves reverse as Powell doesn’t commit to yield curve control Markets in risk-averse mood overall Thursday, worrisome US virus numbers not helping Today: Eurogroup meeting on recovery fund and US jobless claims Fed says the right things, but markets left wanting As expected, the Federal Reserve took no action yesterday, signaled via its ‘dot plot’ of interest rate projections that [..]

Technical Analysis – NZDUSD struggles beneath 4-month peak

Posted on June 10, 2020 at 10:20 am GMT

NZDUSD reached overbought levels according to the RSI and found strong resistance just after touching a four-month high of 0.6580. Also, the MACD is holding above its red trigger line, which supports the bullish view, while the 20-day simple moving average (SMA) keeps increasing its distance above the 40-day SMA, suggesting that the recent upward move is likely to stay in place for now. In case the pair maintains its upward trajectory, the bulls could challenge the next resistance at 0.6665, taken from the minor peak on January 16, before hitting the December’s high of 0.6750. Alternatively, a [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:06 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 8:22 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

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