All Articles Tagged - NZDUSD

Daily Market Comment – Yen smiles as stocks struggle for direction

Posted on May 7, 2020 at 8:48 am GMT

Yen and dollar shine amid dire US and EU data, trade tensions, bankruptcy fears Stocks close lower, but solid Chinese trade numbers lift futures and aussie Pound perks up after BoE keeps stimulus powder dry, but risks linger US jobless claims on the menu today; can equities continue to defy gravity? Yen and dollar stand tall as traders weigh risks Stock markets have been partying like central bankers invented a virus vaccine in recent weeks, but some realism may be [..]

Technical Analysis – NZDUSD keeps buying interest after bouncing on trendline

Posted on May 6, 2020 at 7:12 am GMT

NZDUSD refused to return below the descending trendline earlier this week and ticked up instead, hinting that the short-term uptrend started from the 11-year low of 0.5468 is not ready to end soon. A decisive close above the 0.6130 hurdle, which is slightly above the 50% Fibonacci retracement level of the bearish wave with a top at 0.6754 and a bottom at 0.5468, could confirm the continuation of the positive pattern, with optimism strengthening further above the 0.6175 high. The [..]

Daily Market Comment – Wall Street snaps back, but FX not convinced

Posted on May 5, 2020 at 8:48 am GMT

US stocks bounce back on medical headlines, rising oil prices, tech strength But FX market signals caution – yen and dollar hold strong, gold too Are investors piling into tech because of re-opening fears and US-China tensions? Euro suffers after German court decision on ECB asset purchases Stock markets storm higher Wall Street continues to defy economic gravity, with all three major US stock indices recouping early losses on Monday to close higher, brushing aside the simmering tensions between Washington [..]

Daily Market Comment – Specter of trade war returns to haunt stocks

Posted on May 4, 2020 at 8:39 am GMT

US stocks drop on Amazon earnings, fall further as US-China tensions flare up Finally discounting the long-term impact on consumption, psychology, and (de)globalization? Yen and dollar shine as risk aversion returns, aussie and kiwi suffer US-China tensions reintroduce stocks to gravity The stimulus-fueled bear rally in global stocks seems to be running on fumes, with optimism evaporating after some distressing remarks by Amazon cast doubt on the sustainability of this heavily concentrated market, and the US-China trade war came back [..]

Daily Market Comment – Trump reignites China feud; Stocks fall on data, ECB and earnings blows

Posted on May 1, 2020 at 8:49 am GMT

Markets go into risk averse mood as Trump threatens China with new tariffs Dire data, ECB inaction and mixed earnings further dent risk sentiment Liquidity thin due to May Day holiday; ISM manufacturing PMI coming up Trump’s tough on China rhetoric is back, spooks markets US President Donald Trump raised the prospect of fresh tariffs on China on Thursday as his administration seeks ways to retaliate against China’s handling of the COVID-19 outbreak. The virus has cost more than 60,000 [..]

Technical Analysis – NZDUSD cautiously bullish above very short-term trend line and MAs

Posted on May 1, 2020 at 7:03 am GMT

NZDUSD seems to have retraced slightly to the 0.6074 level – that being the 61.8% Fibonacci retracement of the down leg from the 0.6447 high to the 11-year low of 0.5468 – after the recent appreciation of the price above the simple moving averages (SMAs) and the Ichimoku cloud. The decline from 0.6175 appears to be finding some footing around the vicinity of a supportive trend line. Further backing for this view comes from the flattened Kijun-sen line, as well [..]

Daily Market Comment – Dollar edges down ahead of Fed; aussie’s bull run continues

Posted on April 29, 2020 at 8:35 am GMT

Dollar drifts lower in mostly risk-on mood ahead of Fed statement Virus success powers aussie to 7-week high, euro perks up too Oil steadies, stocks move higher in lacklustre trading Dollar pressured amid lockdown easing, eyes Fed meeting The mood of cautious optimism continues to prevail in the markets on Wednesday as several countries have begun or are preparing to ease their lockdown measures. Hopes that shuttered businesses will soon be able to reopen their doors has sparked a relief [..]

Technical Analysis – NZDUSD pushes above trendline but needs to face another key barrier

Posted on April 29, 2020 at 7:11 am GMT

NZDUSD picked up speed to break above the strong descending trendline and the Ichimoku cloud but it remains to be seen whether the price can finish the day on top of these barriers. Both the MACD and the RSI are somewhat optimistic that positive momentum could hold as the former has climbed above its 50 neutral mark, though marginally, and has yet to overcome its previous high, while the latter has slightly surpassed its zero and signal lines. That said, whether the price [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

Week Ahead – Fed, ECB and BoJ meet ahead of GDP data; can central banks do any more?

Posted on April 24, 2020 at 12:31 pm GMT

It’s been a hectic couple of months for central banks around the world as most have held at least one unscheduled meeting as the virus crisis unfolded. Hence, next week’s regular gatherings by the Federal Reserve, European Central Bank and the Bank of Japan may not bring anything new, as aside from the interim meetings, policymakers have been keeping the communications channels wide open and so the possibility of major surprises appears slim. Nevertheless, markets may need the soothing words [..]

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