All Articles Tagged - NZDUSD

Daily Market Comment – Oil carnage spreads to stocks

Posted on April 22, 2020 at 8:29 am GMT

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets can’t catch a break, with Brent following WTI lower this time to touch a low last seen during the Gulf war, as the devastation in [..]

Technical Analysis – NZDUSD stalls after recent advance brought to a halt

Posted on April 22, 2020 at 7:32 am GMT

NZDUSD has turned flat around the 0.5961 level, that being the 38.2% Fibonacci retracement of the down leg from 0.6754 to 0.5468. This comes after the pair’s recent lunge up from 0.5843, which hit a snag at the 50.0% Fibo of 0.6113 and the capping 50-day simple moving average (SMA). Looking at the short-term oscillators, although they are in bearish territory, they reflect a slight improvement in price. The MACD is just below zero but above its red trigger line, [..]

Daily Market Comment – Oil trades negative as storage space runs out

Posted on April 21, 2020 at 8:34 am GMT

WTI oil price goes negative as physical storage space runs out Loonie and other oil-sensitive currencies retreat But little impact in other assets – mild risk aversion only Yen and dollar gain on defensive flows, stocks turn red, kiwi drops Oil price turns negative as energy market craters For the first time ever, the price on a barrel of WTI crude oil fell to zero yesterday and then traded negative, falling as low as -$40.32/barrel in a move so unprecedented [..]

Daily Market Comment – Oil plummets, but stocks hold their ground

Posted on April 20, 2020 at 8:56 am GMT

Loonie drops as WTI crude oil plummets to two-decade low Yet, rest of the market still calm – stocks near recent highs, yen and gold retreat Are stocks exaggerating the V-shaped recovery, or is there nothing else to buy? Demand fears devastate oil prices The energy market is back under immense pressure, with WTI crude falling below $15 per barrel today for the first time since 1999 as investors increasingly realize that there’s so much excess supply that storage space [..]

Daily Market Comment – Dire US data send stocks spinning, dollar flying higher

Posted on April 16, 2020 at 8:39 am GMT

Fears of global economic slump heightened after dreadful US data Flight to safety hammers stocks, lifts dollar Talk of easing lockdowns fails to comfort markets Markets spooked as gloomy predictions start to turn to reality Reality has come back to bite the markets, taking the steam out of the relief rally in stocks, as investors grapple with the prospect of economic devastation from the virus pandemic. Data released in the United States on Wednesday showed a record slump in retail [..]

Daily Market Comment – Stocks under pressure amid growth jitters; dollar off lows

Posted on April 15, 2020 at 8:36 am GMT

Uncertainty about growth outlook resurfaces after IMF warning, weighing on stocks Dollar pulls higher as risk aversion sets in US earnings and retail sales data could make for a rocky ride Stocks muted as growth jitters return Equity markets were struggling for momentum on Wednesday as the IMF’s latest economic forecasts served as a reminder to investors that the virus crisis will take a heavy toll on the global economy. In its April report, the IMF projected that the global [..]

Technical Analysis – NZDUSD pulls below trendline; set near-term bearish target at 0.5960

Posted on April 15, 2020 at 7:41 am GMT

NZDUSD stopped last week’s rally as the descending trendline and the 50% Fibonacci retracement of the decline stretched from the 0.6754 top proved hard to break once again, with the pair drifting south on Wednesday. The falling RSI and the downside reversal in the Stochastics which have peaked in the overbought territory are discouraging signals and hence the focus may remain largely to the downside in the near-term unless the supportive area around the 38.2% Fibonacci of 0.5960 comes again to the rescue, [..]

Daily Market Comment – Stocks edge up as earnings get underway amid stabilizing virus cases

Posted on April 14, 2020 at 8:23 am GMT

Stocks head higher as easing virus outbreak lifts mood But risk of over-optimism as US earnings poised to unveil virus hit Pound and aussie extend gains as dollar retreats Is the global pandemic peaking? Cautious optimism that the global pandemic of the coronavirus may have started to peak pulled global equities higher on Tuesday just as traders are about to find out what the impact of the outbreak was on corporate earnings. Stocks in Asia ended the day between 1-3% [..]

Daily Market Comment – Fed lifts stocks, sinks dollar, turbocharges gold

Posted on April 10, 2020 at 8:31 am GMT

Fed goes ‘all in’ – unveils new $2.3 trillion lending program Stocks climb, dollar drops, and gold goes into overdrive But are markets realistic about the long-term damage? Oil falls after OPEC deal disappoints in size and scope Fed pulls out all the stops to cushion economy, stocks smile The US central bank rode to the rescue once again on Thursday, rolling out a gigantic $2.3 trillion lending package to help smaller and medium sized businesses as well as local [..]

Technical Analysis – NZDUSD cautiously raises bullish flag

Posted on April 9, 2020 at 8:46 am GMT

NZDUSD created a higher low at 0.5921 and strengthened above the middle Bollinger band, which is also the 20-day simple moving average (SMA), increasing hopes for further improvement in the short-term. The RSI could add to the positive signals if it manages to climb comfortably above its 50 neutral mark. Moreover, to attract investors’ attention, the pair needs to overcome the nearby resistance of 0.6067. Such a move could generate additional gains towards the upper Bollinger band, while a decisive close [..]

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